I've finally got time to submit MenuLabel to the Codebank, with one extra property added: Buttonize.
I've written this control for Vero44 when he was looking for a way to make labels change color on a mousemove event and pointed to this link as a example of what he was after. At that point I joined the thread.
The result is this usercontrol:
The demo project shows just about everything you can do with it and let you change the most important properties on the fly, including resizing at runtime.
The new buttonize property uses the "Toolbar" theme on Vista: (If themes are enabled)
which looks real nice because the buttons are drawn transparent. On XP they aren't and for that reason I'm just drawing the edges.
The MenuLabels behave in the same manner as Option buttons, only one can be selected. By default, Menulabels are assumed to be a group when they are on the same container. To enable you to make sub groups without the need to place them on a separate container, I added the "GroupName" property.
I hope you don't mind I'm not going to explain all properties here best is to play with the demo project, look at the source code and experiment with a test project of your own.