Visiting the field settings page to change only the title of a field seems like overkill to me. When I click "edit" for a field, the settings page comes up very quickly, almost instantly. When I click "save", after making my label change, it takes a long time to do it's work and finally return me to the "manage fields page". Could there be a faster way to update all the lables? Would ajax actions for editing of field labels be quicker?

Or:

Have a button "change label" which reveals a text box for the label when the label can be changed. All field labels can be entered one-by-one upon each field then hitting "save" at the bottom of the page will commit all changes entered above.