I've been doing some more studying on labeling photos and have found some neat programs.
I was concerned because I read an article that said Picasa didn't support IPTC, but it was an old article, this article explains the Picasa upgrade. It also led me in search of some other programs.
Foto Tagger is a neat little program that allows you to identify individual elements in your photos. Take a look.
These programs are not for the feint of heart - I'm mostly including them here for future reference.