I've never noticed a flavor change in basil. The main reason you cut back the flowers is because it's an annual and will die back if you let it go to seed. I actually let the thai basil flower since the flowers are pretty, but then cut the heads back before it goes to seed.

Don't worry about budding basils. Some varieties do that very early, all the time. What I woul do is to pinch off the new growth of dud or any cluster of buds/flowers. You can use them in cooking. DO NOT THROW THEM AWAY.

The thing is that a lot of people plant basil and never harvest it and suddenly it goes to flower and the gardener is crying : WHAT SHOULD I DO . my basil is bolting !?!? ..?lol
If you use basil regularly, it will rarely have a chance to go to flower/seeds, unless you want that to happen.
Sometimes I plant a Thai Basil in a pot along with parsley, chives, miniature chili,etc .. in a pot just for beauty, not culinary use and I like the basil to flower, the chili to grow fruits and get red ... That is another thing.

If it has gone too far you need to let it go to seed and harvest the seeds. There should be time enough if you still have more seeds to try a second crop and save the seeds you get for next year.

I usually wait till my sweet basil gets big and bushy and do a mass harvest for pesto. (mmmm, pesto). It often starts to flower in the meantime, so I just pluck the flowers off.

I like the flavor better of my basil if I harvest it early in the day.

Ok so I'll harvest it early tomorrow morning and make my pesto.

And this might be a really dumb question, but once I harvest, can I leave the plant in the ground with a couple of remaining leaves? Do I rip out the roots and start over?

Total herb newbie here!

Same question for my chives -- I'm going to harvest to make chive pesto, and if I cut it down to about an inch, will it grow back? Or again should I yank the roots and reseed?

You can leave the basil in ground with a couple leaves and give it a shot--that may be cutting it back too far, but it's worth a try. Or, there's enough season left for a second crop, since it does grow so fast.

Chives--yup, cut about 1-2" above ground (they're shallow rooted, so you don't want to pull on them). They'll keep coming and coming. Harvest the whole clump, or just a few leaves if you only want a little. Chives are perennial--you won't have to reseed them, they'll keep coming.

I have heard of people using basil flowers in recipes. By pruning your basil you should be able to rejuvenate it. I find it better to store basil in flower vases of water at room temperature compared to refrigeration. Sometimes, the basil roots in the flower vase and I have successfully transplanted this to a flower pot. I hope I have encouraged you to not give up on your flowering basil plants.

This was the best basil answers I've found online. If I root some of my woody plant to replant next year, will the flavor change on the new regrowth?

The flavour will be the same as the parent plant. And it will vary depending on age and conditions just as the parent plant would.

I picked and washed all leaves today. The drying process has officially started. one more question, what does the black spots do? I know its bugs eating on the leaf, but does it affect the dried spice? I don't think you wouldn't even see it once dried. I am talking about a small amount.