Tall baseboards make a house look more expensive (probably because they are really expensive). Fake a nice thick baseboard by adding a thin strip higher up and then painting in between. I haven't done this, but maybe it's something we can do in our basement once we get to that point. Still working on drywall. Ugh.
These pictures are all courtesy of The House of Smiths.
Here are a couple other tutorials from bloggers that tried this out:
The Idea Room - How to Take Your Baseboards from Small to Tall
Chic Little House - How to Make Your Baseboards Taller
ChaiteLane - Designer Trick! How to Make a Gorgeous Baseboard
Hi Sugar Plum - Faux Crown Molding