I've done several different things to haul bikes. My hitch has been relocated higher up so it's probably about on par with the 4x4 labs location.
The first rack i had is exactly what you have pictured. I took the lower portion off that goes into the hitch and pivot point and built a new one that went back further and upwards. Only downside of this is that the folding point is much higher, and you you won't be able to fold it down to clear a single swing out arm if that's what you have. Double arms are generally no problem. This rack is now at home on one of my dad's 40s clearing a 35" spare and cooler. I'll try and find/get a pic of that.
Most of the time I use a northshore nsr4 and it really hugs everything on the back end considering it holds 4 bikes. Recon rack also has a bike rack of similar concept but can hold road bikes and children's bikes, whereas the northshore is mainly for mountain bikes with suspension forks. There's still several adjustments that can be made to move the rack further back or tilt it back, but I keep it as tight as possible.
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I recently just built a two bike attachment that bolts to the base of my cooler basket swing out. Then two Yakima High rollers bolt to it. Not as sturdy as the northshore, but better departure and I don't have to fold anything down to open the swing outs since the bikes attach to a swing out.
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