I built mine using flat stock and like it quite a bit. There is a post on here about how to build it
http://www.camaro5.com/forums/showth...+plate+bracket (although it took me a heck of a lot longer to build than the 3 hours the post estimated).
No drilling necessary. The brackets attach to existing holes. Plate sits perfectly straight up (no angle to it). Maybe $25 in material?