For our first day of winter vacation, my wife and I spent some time in my classroom bar-coding and labeling my iPods. We also labeled each slot in the cart.
That process went fairly quickly, but I also wanted to upgrade all of the iPods to iOS 4.2.1. That took much more time because I could only do one device at a time. However, by following these directions from Fraser Speirs on how to save the update file locally, I saved close to 10 minutes each device.