[QUOTE=TelZilla;892399] Also, I've heard that the white stripes song "7 Nation Army"s baseline is actually just a guitar run through an octave pedal (set to one octave low).
So I guess I actually have 2 questions:
~does this sound like a reasonable thing to do for home recording? Does anybody do this?
sure - if you want to sound like the white stripes ... If you want it to sound like electric bass, you probbaly want to purchase or borrow a bass. The FB layout is the same as standard tuned guitar and the fingerings are typically easy. The tough part with bass, particularly for guitarists is knowing when no to play, when enough is enough - the borderline to 'too much' land.
You could take the aproach above - the guitar through an octave thingy - for a demo, no problem. Anything beyond that is going to require some different approaches or it could get kinda boring. Personally if I were trying to fake my way through bass lines - I would go synth. An 80's Korg Poly 800/Poly 600, etc will lay down a hellacious bassline and key bass isn't all that hard to learn. It can also be programmed and sequenced more easily.