High-quality labeled datasets are crucial for training and evaluating foundation models in software engineering, but creating them is often prohibitively expensive and labor-intensive. We introduce SPICE, a scalable, automated pipeline for labeling SWE-bench-style datasets with annotations for issue clarity, test coverage, and effort estimation. SPICE combines context-aware code navigation, rationale-driven prompting, and multi-pass consensus to produce labels that closely approximate expert annotations. SPICE’s design was informed by our own experience and frustration in labeling more than 800 tasks from SWE-Gym. SPICE achieves strong agreement with human-labeled SWE-bench Verified data while reducing the cost of labeling 1,000 instances from around $100,000 (manual annotation) to just $5.10. These results demonstrate SPICE’s potential to enable cost-effective, large-scale dataset creation for SE-focused FMs.