Flag QLabel to put an ellipsis at the end of text if the text doesn't fit

A nice feature for QLabels might be the ability to flag the control to put an ellipsis at the end of text if the text doesn't fit like the win32 static control allows. Also a feature that control has is introduction of an ellipsis in the middle of the text if the text is a path so as to show the beginning of the path and the file name when it can.