I have a rigd Ultraswing on my F-350 with HAWK. I'd say its good not great. It's extremely functional, but with the spare tire (35in E rated) and bike rack with two bikes, its quite a lot of weight and the end of the bike rack does turn into a bit of a diving board. I just take it easy on bumps.
Also, due to the full sized spare being so large, getting the bike rack to fit requires an extender, which contributes to the diving board nature. With one bike its pretty solid, two bikes she starts to really bounce on big hits.
Aside from an Aluminese (Spelling?) bumper, i dont know of a good alternative.
I would buy the rigd ultraswing again if that helps.