I did it recently with a quilt that I'm quilting now. LOVE THIS METHOD!! I've never liked safety pins, have always been a baster, but never had a good enough place to lay a quilt out to baste on the floor with the "tape down" method.
The boards kept my fabric nice, flat and even. The herringbone stitches keeps everything in place nicely - no shifting at all. Absolutely love this method.
I use YLI wash-away thread so I don't have to worry about sewing over basting threads, or stopping to pick them out before I sew over them. However, the next time I baste a quilt, I'm going to do it from the back of the quilt so the large herringbone stitches are on the back and the smaller horizontal stitches are on the front. The reason is that my open toe foot likes to catch the basting stitches - I can avoid much more of that if I baste from the back I think.
Now I need to find a large enough table and long enough boards for my 120 x 120 quilt. Hmmmmmm ......