nkonor,
I've found that all of the hype over protecting the label is just that, hype. Early on in my record cleaning education, before the 16.5 and the AD and the steamer, I use to actually dip my lps into a sink full of distilled water to rinse. I never had one issue with the labels. (Of coarse you don't let them soak.) On older lps where the labels have aged, if they get wet, just blot them off, don't rub. Having said this, if I see my cleaning fluid seep onto a label, I'll blot it off.
While I'm steaming, during the time when the steamer is recharging, I'll blot off the label when necessary. As I mentioned earlier, I hold a record over a sink against my torso while steaming. This allows everything to drain off as much as possible.
Have fun!