[mr_justin]

I opt for a P around both the label and the field, gives greater CSS hooks and encapsulates each form area nicely.

[aarongough]

That's what I generally do as well...

[bkudria]

Fact: you can wrap input elements in a label element. No extra for attributes required, either.

[mr_justin]

Yes but if you want to float the label and have it cleared in the next "row", that's where the separation of elements comes in handy.