Actually, we had both road bikes in the trunk! I know... it sounds impossible... but it's true! You've got to remove that styrofoam disk where they mount the jack (just take the jack and tools out and put them in a small bag). Then you take both wheels off the bikes and carefully layer everything with moving blankets. It works, and there's plenty of space left over for helmets, shoes, water bottles, and even a few duffle bags. It's amazing what fits back there.

I posted some photos in an earlier thread:
http://www.greenhybrid.com/discuss/d...highlight=bike

We loaded and removed the bikes three times during the trip. It takes about 20 minutes to break down the bikes and load them. It takes about 15 minutes to pull them and assemble them. Not exactly as convenient as a rack, but the bikes stay clean, our mileage stays high and I saved $300 on a hitch and rack!