As I understand this question – you are able to run the DSPFFD command to a file. If you use *ALL for the object you will capture all files in a library. This will have to be repeated for each library with *ADD for the member rules.
Using SQL or Query/400 you can create a new file from the DSPFFD output containing only the columns that you want.
I’m not sure what you mean by value-label — the labels will, I believe appear in the output the values are not part of the meta-data.