IMO Base rock is the only way everyone should do it. Seed it with a tiny piece of LR and you are good to go. Much much cheaper AND you didn't steal from the ocean. 6-8 months later and your base rock looks identical to LR and you saved $8 per pound
I have only one question...why wouldn't you want live sand or LR? If it is the cost, consider your investment carefully. There are some significant benefits to LR, such as biodiversity that you will never get out of a bottle. OTOH, there are some risks as well, like pests.
I have used both. My recommendation would be to use live sand and add reef bones as your base structure to save money. Add the LR on top to make it pretty, and to seed the bones. They will colonize fairly rapidly.