Thule T2 racks are by far the BEST bike racks you can buy. Aside from that, I must have one of the VERY few Camaro's out there with a 2" receiver? :-D I used a Valley receiver and had a pro welder mod the shit out of it. Off goes the 1" receiver, on goes a 2". Also as you can tell, I raised it up and put it through my diffuser. Freak out all you want, I think it looks kick ass. I just need to get a cap for it. Then I might try to put some black door edge guard around the cut edges of the diffuser... or I might not.
Installation was slow. The Valley hitch... I can't wait till Monday so I can call them up and bitch them out. The hitch didn't even sit flush against the car. The two bolts you have to drill, its like when they designed the hitch, they didn't know the battery was in the trunk. You have to remove the battery (no mention of this in the installation instructions) and drill not just through the floor pan but right through the battery pan. And guess what, once you do that, the bolts they give you aren't long enough to go all the way through. ALSO, the battery won't fit properly in it's pan once it's sitting on the heads of two bolts.
I did manage to pick up the receiver for $120. $200 msrp
Also the welded did a kick ass job, if anyone is in the Boston area and needs work done, let me know! I also got an awesome deal on the bike rack. $200 lightly used on craiglist. $400 msrp.
So as far as usage, I used it for the first time today and its GREAT. You latch it on and just drive totally normally. And I even managed 24+MPG on the highway, with one bike, and my windows and roof open. I filled up right before I got on the highway. So I'm not going to be leaving the rack installed and up during the week. It's mainly going to be on the back during the weekends. I really don't do bike trips during the week, only local riding.