Our old bike rack was the kind that your bike hung from by the top tube. For a while I've ben unhappy with how this style can wear on your bike, two bikes can bang into one another and bikes with shocks in the main triangle need to be mounted creatively.
In addition, several of our bikes have the cables routed under the top tube and this rack caused the cable to rub the frame. Lots of reasons to look for something new...
Fast forward to two weeks ago!
Closed up like a clam
Closed up it takes up very little room and doesn't make any noise or anything. It folds down easily for loading, and even over-opens so you can tilt it outward and get in the back without unloading the bikes.
Bikes are held by the front tire, which is harmless to them. The tire grabber has a locking mechanism even, which wouldn't suffice for overnight storage, but is fine for short stays.
Final rating: 4 apples out of a possible 5