There are a few tricks for labeling your pipe lengths from structure to structure, but no really good ways to get that structure to structure slope and invert label to match your exact design intentions.
Here is something I came up with that still needs a little bit of babysitting, but isn’t too bad.
Here is it in a nutshell:
1) Make a profile (yes PROFILE) style that is on a no plot layer or a layer you will freeze later.
2) Make a GRADE BREAK label called “Pipe Invert” that calls out the elevation of the grade break
3) Make a PROFILE LINE label called “Pipe Slope” that calls out the slope of the tangent piece
4) Make a PROFILE LABEL SET that uses those two labels and weeds the grade break labels to NOT label the short segments inside the manholes (I have 48″ MH, so my weeding is 5′)
5) Draw a your profile snapping from endpoint to endpoint of your pipes, and choose your label set
6) If your pipe network moves, just go back and grip edit that profile line.
This profile actually comes in handy later if you want to make a pipe trenching corridor for quantities. You can manipulate these labels to say exactly what you need, and customize your pipe labels, dragged states and label pinning so that they are integrated with your pipe labels seemlessly. Nobody would ever know your secret.
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Here are the above styles and label set in a drawing that you can download: