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I feel that the label is not correctly aligned with its input field. The baseline of the label text should be aligned with the baseline of the input field text.
See attached image, which shows the 1.2.0 form demo page. Here Chrome 23.0.1271.97.
All labels are aligned with the top of the form element. I think this is a matter of personal preference.
If we would want to change this we run into the following issues:
I think we should leave it up to the developer to align the label differently with custom CSS and close this ticket as won't fix.
@toddparker - What's your opinion?
In addition, with a native form you will get the same alignment. So I don't think we should touch this. It would make it more difficult for developers to apply their own styling. Closing this as won't fix.
To fix this and have my label aligned with its input field, when using layout grids especially, i apply margin-top to my label.
Hope this helps others when reaching this from Google.