I think this is a great idea - how many similar pieces of black luggage do you see on the luggage carousel at baggage claim in the airport? How can you tell your laptop, phone, or music player from someone else's? UBrand provides you with a way to personalize your stuff in a way that reflects your personality. They also sell some professional-looking monogram letters if you want a more dignified look.
Sure, you could use regular stickers, but these are designed to be tough and (as they say) "semi-permanent."
Check them out and see what you think - and if you want a chance (through September 25) to win 3 monogram letters, check out this post at the Business Opportunities Weblog.