This is what I'm using:
Edit /skin1/main/order_label_print.tpl
Code:
{$order.tracking}
{$customer.s_firstname|default:$customer.firstname} {$customer.s_lastname|default:$customer.lastname}
{$customer.s_address}
{$customer.s_address_2}
{$customer.s_city} {$customer.s_state_text} {$customer.s_zipcode}
{$customer.s_country_text}
Steve.