So I really want to convert my acoustic to fretless, and I've been reading up on how to do it. it occurred to me that, if i'm going to be going through all that trouble anyway, maybe i could get a new fingerboard - something with a better (more exotic) wood. is it possible to completely switch out the fingerboard (instead of sanding down and lacquering the one i have)? how hard would it be?
It is possible, some luthiers can replace the FB for you, but it is quite expensive. Easily in the hundreds of dollars-range if you take it to a reputable luthier.
It might also be good to point out that "more exotic" does not always equal "better." Depending on how much you've got invested in the acoustic already, you're probably looking at $300+ to have a fretboard replaced. And, you won't be adding anywhere near $300+ in value to the instrument if you ever intend unloading it.
While I believe it's physically possible to do so, nearly every luthier I've ever talked to about doing this really doesn't want to do it ..........
Considering the cost, and the fact the you might actually devalue the instrument by doing this, I suggest that you are probably better off selling the bass and buying a fretless bass. Even if you like this bass fretted, you might find that after all the trouble and expense, it doesn't have the fretless sound you're looking for. It's possible that a different wood combination, etc., would be preferable to your ears for a fretless.
***Very Important!*** First read the instructions on how to properly defret in the Setup subforum!!! Otherwise you can easily ruin your bass.
Just out of curiosity, can inlays affect the sound quality once the frets are removed? That could be an argument for a new fingerboard.
Yes they can. The harder mop or abalone has a different attack than the wood underneath the string. The problem will come with the inconsistency all over the neck. If the inlays and wood surfaces all have the same coating, this might be minimized somewhat.