I had pretty much decided against the Fluidmaster waxless ring after reading some of the replies - especially when I realized that the Fluidmaster simply pushes against the toilet (i.e. nothing adhering it).
Just push the fluidmaster onto the bottom of the toilet
However, when I was at Home Depot picking up a wax ring - I noticed a wax free contraption made by Fernco. This one has an adhesive strip that holds the fitting to the bottom of the toilet and the fitting itself is designed to slide tightly into the inside of the 3" toilet pipe. To my untrained eye it looks better engineered than the Fluidmaster version. Go here for more information/pictures: http://www.fernco.com/FTS.html
The Home Depot plumbing guy was familiar with the Fernco version and said that he had been told they work very well - and that he hadn't yet seen a return. He said the return rate (or lack there-of) is a good indicator of how well a new item works.
I picked one up - and unless any of you advise me against it - plan to try it. I'll report back on how it works.