I'm very glad I bought this rack. It does exactly what I need it to do without hassles.
I have been using it on a 2011 Chevy Equinox with a 2" receiver (I chose a 2" receiver over a 1.25" because of this rack - more on that later).
First off, the rack holds bikes very securely no matter what the driving conditions. When I first mounted up my bike I was a little skeptical because I was able to wiggle the bike around somewhat in the rack, however, on the road it wiggled far less than I was making it do parked in the driveway (on the road, all forces enter the bike via the tires whereas I was pushing on the handlebars where I had far more leverage over the bike). As another reviewer pointed out, you need to get the arms adjusted as far inward as possible so that the tires snap into the hoops - it should take a little bit of a downward push to get them to snap in - if your rear wheel just falls down into the rack after the front is in, the arms are too far apart). The bikes should NOT lean at all regardless of the vehicle speed. The hoops do all the work of holding the bike in the rack: the rubber straps are only a safety measure.
Whether loaded or unloaded, I never even notice this rack is on my car while driving. No rattles, no wobbles, and no scraping while loaded, despite the steep approach to my driveway.
The arms are a little tough to extend sometimes. I have not attempted to lubricate these yet, but I'm confident a dab of silicone paste on each arm will get them sliding smoothly. Do note that if you ever have trouble pushing the arms inward, you can sit on the ground and push with the arm your foot.
The only negative things I can list are fairly minor. My Versa shipped with two locking bolts for the 1.25" receiver and none for the 2" receiver. Fortunately, if you don't require locking, you can pick up a bolt at any hardware outlet. One call to Softride was all it took to get them to send me the correct size locking bolt at no charge, which arrived in a few business days (and they didn't make me send the extra one back to them).
The only other minor problem was the way the tilt lever attaches to the rack. Assembled with the factory parts, the lever was loose and would rattle between the two tabs that the pivot bolt fits through. I simply took a 1/8" thick piece of rubber and made a washer out of it to sandwich the lever between the tabs - no more rattle and the lever functions perfectly. Since this appears to be a minor design issue and not a missing part as with the locking bolt, I wish I could rate in half star increments and give this 4.5, but even with this flaw I feel the rating should be higher than 4. Without this minor design flaw, which may even be fixed in later versions, this rack is a solid 5 stars.