Well, here's my experience with it:
I've wanted to really try out a wrapless cue for years, but never had the cash or motivation to do so until a couple of months ago. It needed to be 60" and cheap, so my research led me to an older thread here, which ultimately helped me pull the trigger on the purchase. (Can't post links yet, but you can just type "schmelke sneaky azbilliards" into google to find it. It should be a thread from 2007)
Those pesky extra two inches crossed a lot of desirable cues off of my list. You won't have that factor limiting your options, so you have many high quality cues to choose from. Just make sure to do your research, look around for AZB threads on the cues you're interested in.
Anyway, my cue was a custom order through BW, for a 60" cocobolo sneaky. (They even did a Hoppe ring when I requested it, which was an unexpected pleasant surprise.) I got it with the 3/8x10 joint. The cue arrived in just under 4 weeks. I can PM or e-mail you some photos if it'll help make your decision easier.
After getting a milk dud installed, it's has become my main cue. I'm a convert, wrapless from here on out. However, the unfortunate casualty of this little experiment is my trusty old Al Romero player. Every time I look at it now, all I can think about is how much I regret requesting a wrap on it.
The cue they made for me is definitely a full splice. Perhaps the BW photo is an MS Paint mashup of two separate pictures? Also to touch on what you said after that, a sneaky from Mr. Frey is on my personal wish list. I tried one out a few weeks ago and it hit all the right notes. (Well, except for the length.) If I can get one of his cues in 60", I'm pretty sure that would end my search for the perfect player. Hopefully it won't take as long this time to save up for one.