Is the command below what you're talking about?
LABEL=/work /work ext3 acl 1 2
The comma was intentional. That's the correct syntax for multiple options in fstab. The example from RedHat leaves off the defaults option. I haven't tried an entry like that in fstab, but the de facto convention is to use defaults unless you want to restrict some functions.
Defaults specifies rw, suid, dev, exec, auto, nouser, and async. Check the mount manpage or http://linux.die.net/man/8/mount
for an explanation of what each ones does.
It seems ACLs are better and in ways easier to learn than the chmod approach, so I'll likely just use that for my server (though I'll still learn chmod for the sake of it).
Using ACLs to control permissions is an odd way to setup a webhost. Most webhosts are setup one of two ways. The first way is where the Apache group is set as the group on the folders/files, and the second way is to add the Apache user to group of the website owner.