Project labels, tasks automatically inherit
If you have this structure,
My Work Stuff
Being able to assign default labels to "My Work Stuff", then when adding tasks to Project 1, those automatically apply to the new tasks as well.
This is probably what most people do anyway if setting up a Project hierarchy, but just manually.
The formatting was lost in the above message, but "Project 1" should be a sub-project to "My Work Stuff"