You can have transparent labels in .NET.
Check out this article on CodeProject on How to Use Transparent Images and Labels in Windows Forms
As for you drawing problem Calibri doesn't have a native font size of 10. You can verify this in Control Panel->Fonts. The smallest native font size is 12 (on my machine at least). Change you from size to 12 and you will see it's much better.
When you don't use native font sizes somewhere under the hood Windows/.NET/GDI+ will attempt to scale the font for you. This scaling is most likely causing your problem.
ParmesanCodice
2009-10-13 09:13:03