+bikes don't move at all when driving at high speeds
+very adjustable
+sufficient clearance that bikes don't scrape car
+very affordable
CONS:
-maybe don't pinch your fingers..? :-)
-this 1.25" model can only hold 2 bikes -- no adapters to upgrade to 4 bikes.
-given enough time a bike thief could disassemble this rack using wrenches. Locks would slow them down (see below) but not eliminate risk.
I'm using this on a 2003 Honda Accord with a 1.25" Draw-Tite hitch receiver that I bought from [...]. (Draw-Tite, Hidden Hitch and Reese are all made by the same parent company!)
FYI- I believe Amazon has the wrong manufacturer part number (MFG P/N) listed for this item as of October 2008. The Swagman bike rack that Amazon is selling here is actually MFG P/N 64625... it only fits on a 1.25" hitch receiver. I just bought it, so I'm sure. It's not to be confused with MFG P/N 64670 (newer model that fits BOTH 1.25" and 2" hitch receivers but has different design and weighs about 34 lbs) or MFG P/N 64650 (fits 2" hitch receivers only).
Again, this bike rack is the model that ONLY work on 1.25" hitch receivers.
UPDATE February 2009: As far as security goes...
(1) Swagman makes a 1/2" diameter threaded hitch receiver lock (MFG P/N 64029) that will lock this bike rack to your hitch.
(2) You will also want to purchase 2 regular padlocks to lock your bikes to the bike rack -- your local hardware store will have these.
(3) You will probably also want to purchase a 1/2" diameter NON-threaded hitch receiver lock for this bike rack -- you can't tell from the Amazon picture, but there is a 2nd quick release bolt at the bottom of the rack that could allow bike thieves quick access. I purchased Master Lock Receiver Hitch Lock 1/2" (MFG P/N 1472DAT "Barbell Series") for about $15 at my local hitch store. Note that this is in addition to the item I mentioned in #1 above. The newer Swagman model (64670) has a different design and probably won't need this.
This rack is advertized as easy to put together out of the box, and easy to use once you are ready to to ride. Both of these statements are completely true. We have one man's and one woman's comfort bikes and the different length center main clamps of the rack are perfectly suited to these differences in bike design. The rack is very easy to insert and lock into our trailer hitch and the bikes are extremely easy to load requiring only a minimal lift and support to set and lock them into the rack. Definitely truth in advertising!