The place label tool should be able to choose a text favorite rather than only place from cells.
It should be almost the same as the place notes tool. but instead of showing the text editor like the place notes tool does it should be able to simply select a text favorite.
then it should honor the Notes settings of the dimension style like place note does.
this way if I want a frame around the text favorite, that can be specified in the dimension style. No need to make a cell just to put a frame around it like you have to know (which is a lot of extra work). and the benefit of using the dimension style and having it behave like place notes is the frame would resize depending on the length of text (which doesn't happen now with the place label tool).
It should also honor the other notes settings in the dimension style like the leader type, terminator...