I don't like the tagless bug idea.
According to the law of supply & demand, scarcity creates value.
I like the ratio of bugs to caches right now. Travel bugs are special. Making cheap tags at $2 a pop would create a lot more travel bugs. Not only would there be too many bugs to make them special, but many would look pretty ugly with a home made tag. I really enjoy the professional looking metal dog tags. This standard format gives the TB's a sense of authenticity and respectability.
I vote a hearty "No!" on the tagless TB idea.