OK, so you are going to thik that this is the CRAZIEST thing in the world, but my friend did it in her apartment and it not only worked, but it looked GREAT and came off easily when she wanted it off to move.
She used a thin chair rail, and to adhere it to the wall, she used... VELCRO AND HOT GULE! She got the sticky velcrow strips, put one side on the wall using just the adhesive that it came with, and hot guled the other side to the chair rail and poped it on up there! She did not want to make a bunch of nail holes, but wantd the look of a chair rail in her living room.
Just an idea, other than that, another adhesive would probably work well.
(puts "chair rail and paint bottom of living room" on the list of things she wants to do...just have to finish painting the woodwork!)