I have had quite a few people ask for details about how we did our bases without baseboard. First off let me say that it is completely different if you are talking new construction. New construction is easy, they make a 1/2" trim piece that keeps the drywall floated off the floor. For our house, I simply used a 6" drywall taping knife and smoothed the wall out to the floor. There were areas where I probably added as much as 1/2" of mud to the base to try and cover the floor boards. As long as you take it up smooth for a foot or so you don't really pick up on the added thickness. We were lucky that on all our doorways the wood casing came all the way to the corner. You really can't make a corner out of drywall. For existing construction, one of the problems is that your finished floor doesn't always go completely to the wall. There were plenty of area's in our house that were like this. In the process of mudding they got filled in, and I simply sanded them flush and finished over them when I finished the floor. It really isn't too noticeable. I did worry a little about how the base would hold up over time, but I figured it would be cheap to repair if I ever needed to fix it. To sum it all up, it's not perfectly clean everywhere, but I still think it looks a lot better than having base. Price wise it cost less than $50 to do 800 square feet, but a LOT of sanding and mudding. More pictures below.