I know that we are getting some updated editing tools in 10 but if you havnt seen this program you should check it out and see if we can get some of what they have. http://www.mapdiva.com/. You can grab labels and just rachet them around a point into the 9 zones, or slide a label up and down a line or poly. You can also, and this is my favorite part, stream in lines as bezier curves not as a sequence of points and lines. I woud love to see this in ArcMap. The way you add bridges is genius.