My two cents on this - really the only reason to organize by label would be if you consider yourself more of a collector, or if you are more interested in the sonics of a recording than the performance.
As a professional musician, the concept of organizing by label is a little bizarre, as I am first and foremost interested in the performance. I organize by composer, then by genre, then chronologically within each genre. I do keep multi-composer albums separate, and those are organized by Orchestral, Choral, Chamber Music, etc. Soloist albums are organized by instrument, and alphabetical by soloist.
If you are a big time collector, though, then organizing by label would make perfect sense, as you could just file it by the catalog number. You also don't have to put near as much thought into it if you go that route.
As a professional musician, the concept of organizing by label is a little bizarre, as I am first and foremost interested in the performance. I organize by composer, then by genre, then chronologically within each genre. I do keep multi-composer albums separate, and those are organized by Orchestral, Choral, Chamber Music, etc. Soloist albums are organized by instrument, and alphabetical by soloist.
If you are a big time collector, though, then organizing by label would make perfect sense, as you could just file it by the catalog number. You also don't have to put near as much thought into it if you go that route.