Hey Peter,
I think you're one of our customers so you should already have access to the ANZ Toolbox. We have a command called "Measure Geometry " in Beta that I think will solve this problem for you. It allows you to select a Line or a Point and then measure various geometric properties in relation to other points/nodes. You can then create an excel report and annotate text (with a bunch of options) to a specified layer. As with all of our measure commands you can configure the columns and the text annotation fields you want to be visible. See screenshots below for the configuration I think would work for the workflow you describe.
As I mentioned this hasn't been released yet, but if you get in contact we should be able to provide you with a Beta Build.