You can get an acrylic spray "fixative" (sometimes called a clear coat preservative) in most hobby and craft shops that will make your ink-jet labels less susceptible to running when exposed to incidental amounts of water. The spray trick is something that I use for my labels and although it isn't perfect (it won't preserve print integrity while you're soaking the labels off, for example), it does a very good job of keeping the colors from smearing when condensation forms on the outside of a chilled bottle.
Wayne,
I actually did that for the labels on some of the bottles I took to War. They spend a day in an ice chest in the van, then a week in a small fridge in a very hot tent that is opened repeatedly to fetch Gatorade, and then an hour chilled on a picnic table waiting to be sampled. Repeated condensation exposure...
I had mixed results but your method does improve things. I suppose it is a "medium" cost solution since the acrylic sealers/postcoats are a little pricey. But certainly a laserjet printer and cartridges is high end price-wise...