I print a pre-numbered BCID label for most books (free on the site) but I always activate them by filling in the book info before releasing so that I know it is accurate and I have a record of what the book is and where I released it. That label I put on the inside of the front cover.
(Some people don't like the pre-numbered; you can print the same label blank and register the book in the normal way and fill it in yourself if you prefer. I happen to like the pre-numbered, but those are activated by making a Journal Entry, not by Registering.)
Sometimes I use a label from the site instead, such as these that I ordered for International BookCrossing Day: http://www.bookcrossing.com/---/13205785/
I use one of the Officially Official or Slim Stickers found in the Supply Store or a label I print myself on every front cover so that people won't think the book is lost.
And I put a Tiny Sticker from the Supply Store on every spine. I cover these and all the other bookplates and labels with clear packing tape as well to protect them.
(Also the Tiny Stickers tend to pop off if you don't put tape over them, and the ink on my BCID labels tends to run when damp if not protected by tape as I print on an ink jet printer.)
I'm not sure that good labeling can enhance your prospects for getting a catch, but I am sure bad labeling can kill those prospects. I've gotten books before from other BookCrossers that didn't have complete info, or the BCID was hidden several pages in, or the URL for BookCrossing wasn't there, or the BCID wasn't readable, and I can guarantee those would never have been journaled if a non-BookCrosser found them.
Good luck on your releasing. I hope you enjoy it here as much as I do!!