For a top-down shooter style control scheme is it possible to do this with the free version of mecanim?
It is definitely possible via animation blending trees with parameters that specify the character direction, for example in degrees from -180 to +180 where 0 degrees means the character facing the upper edge of the screen.
Try this one. Worked for me.
http://answers.unity3d.com/questions/509139/mecanim-legs-orientation.html