Here's a responsive CSS solution, based on adding a large padding and an equally large negative margin to each column, then wrapping the entire row in in a class with overflow hidden.
.col{
margin-bottom: -99999px;
padding-bottom: 99999px;
background-color:#ffc;
}
.col-wrap{
overflow: hidden;
}
You can see it working at jsFiddle
EDIT
A variation if you want equal height wells or columns with rounded corners:
http://jsfiddle.net/panchroma/4Pyhj/
EDIT
Another variation with equal height wells or columns with rounded corners, this time for Bootstrap 3
http://jsfiddle.net/panchroma/D4xdE/
It's more or less the same as with Bootstap 2, but with some refinements to accomodate a change in how BS spaces the column grids now.
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