Now that I'm definitely back into triathlon, I've decided to get a bike rack for Raven. After doing some shopping I've decided to go with the Thule 917XTR T2.
The T2 makes it super easy to load 2 bikes securely: no hassle with lifting bikes overhead, and the securing mechanisms never touch the bike's frame. I am comforted in the fact that there are 2 locks and a security cable included with the rack. Another neat feature is that even with a bike loaded, the rack will tilt to allow rear-of-vehicle access, so there is no need to unload the bike in order to open the hitch. Finally, if needed down the road, there's an add-on part which allow for racking another 2 bikes.
I have been in touch with the hitch installation folks (Weld-Rite per Orange Cycle's recommendation), and the part is set to arrive late next week. I'll post an update with a photo as soon as I get everything installed and my bike (which still needs a name) loaded!