I picked up this rack from Amazon, and have been very happy with it so far. http://www.cyclechoice.com/store/produc ... itch-Rack/
Affordable, holds the bikes very well when on the car, and it says that it works on either 1.25 or 2" hitches. I only have a 1.25" so I cannot comment on the adapter that came with it for a 2" inch. Quite a few people are against these types of racks, because the arm locks down over the frame. I have noticed absolutely no ill effects of this. I make sure to wipe the top tube down before putting the bike on the rack. I wipe down the foam padded arm as well. Once strapped in properly, the bike shouldn't move, causing rubbing issues on the top tube. I have had the car at 85+ mph on the highway with 2 bikes on the back, and I could barely tell that they were there.
The 1Up is a sweet rack, but also has a hot price tag. This is a more affordable option I think.