A config could read something like this. As d@nish mentions, you use the URL rather than the file system path to resolve the service endpoint.
<system.serviceModel>
<bindings>
<basicHttpBinding>
<binding name="BasicHttpBinding_MyApplication" closeTimeout="00:01:00"
openTimeout="00:01:00" receiveTimeout="00:10:00" sendTimeout="00:01:00"
allowCookies="false" bypassProxyOnLocal="false" hostNameComparisonMode="StrongWildcard"
maxBufferSize="1000000" maxBufferPoolSize="524288" maxReceivedMessageSize="1000000"
messageEncoding="Text" textEncoding="utf-8" transferMode="Buffered"
useDefaultWebProxy="true">
<readerQuotas maxDepth="32" maxStringContentLength="8192" maxArrayLength="16384"
maxBytesPerRead="4096" maxNameTableCharCount="16384" />
<security mode="None">
<transport clientCredentialType="Windows" proxyCredentialType="None" realm="" />
<message clientCredentialType="UserName" algorithmSuite="Default" />
</security>
</binding>
</basicHttpBinding>
</bindings>
<client>
<endpoint address="http://localhost/YourVirtualDirectory/SomeService.svc"
binding="basicHttpBinding" bindingConfiguration="BasicHttpBinding_ MyApplication "
contract="ISomeInterface" name="BasicHttpBinding_ISomeInterface " />
</client>
</system.serviceModel>
If you right click on your service in Visual Studio & choose 'View In Browser', it'll open the service and show you some syntax for creating a client side proxy.
svcutil.exe http:
If you open your visual studio command prompt & run that command, it'll create a proxy class for your service &
it will also create a service config file for you.