A couple years ago, I took out all the mulch from one area of the yard (the projcet for this year is to finish the rest of the landscaping) and replaced it with river rock. Instead of buying bags of rock, we ordered 10 cubic yards of river rock, which took quite a few wheelbarrow loads to move.
When I do the other side, once I take out the old mulch, I will lay out weedcloth. This time, I'll probably spread sand or pebbles before the river rock, since I think it will help minimize the weeds.
We have flowers planted in the rocks, and they haven't had any problems, FWIW.