I've been reading fanfiction for years, and can't seem to shake the addiction. I don't have the time to write myself, as evidenced by the unfinished (and rather uninspired) stories at the bottom of this page. I don't really have much time to read, either, but if you write a story that prompts me to review I'll probably follow it as long as you update.
In my opinion, the best Labyrinth fanfiction is Into the Rose Garden by Dryad13, followed by A Fairytale by Chaimera. Those two were both written a few years ago, when the caliber of writing here was a bit higher.
As for myself, I'm a reader through and through- I devour the written word, work in a bookstore and am sometimes called a grammar nazi.
~Ella