For the situation the OP was talking about, we prefer using the Point Style to place the Marker and the Label on two different layers. This way, we can use the layer settings to control display. Normally, we leave the label layers set to "NOPLOT", so we can see the labels on-screen, but they don't show up when we plot, unless we want them to.
You can override the Point Label Style with "None" in the Point Group, and turn off labels for all points in the group. And we DO do that, sometimes. But for most things, I really do not like setting objects to a "None" display style. When you do that, if you want to turn the display back on, you have to remember which style this entity is supposed to be using, and find and apply the correct style. We don't like that. We like turning layers on and off MUCH better.
There's another respect in which we also get more flexibility this way. With points that use Desc Keys, we use the Desc Key to assign a "good" default label style to each point. There may be different label styles applied to points in the same group. In particular, we may turn off point numbers and elevations for many things, such as Natural Ground shots. It helps keep the drawing "clean", cutting down on "clutter". But then we may use a Point Group Override to cause all points to display with Point Number, Elev, and Description, whenever we need/want to see everything.
Sinc