There was some talk about hitch carriers so I thought I would give my two cents. I really prefer to have the bike "inside" or in the truck bed as much as possible. Its more secure, I worry about the bike less. But I do really like my hitch carrier, its easy to load, much smaller and easier to park/turn than a trailer and is surprisingly stable. It does wiggle around a bit and I would definetly recommend a triple hitch setup(three bars to hold the bike). I'm usually carrying a fairly heavy dirt bike at 300 lbs. I much prefer to load the hitch carrier than loading into a tall truck.
I think using a spare tire mount or something similar works better than just hanging out with all the weight on the hitch.
This
As opposed to this
Some things that can happen.
This bike came off the carrier at 65. It got a new bar and made the race the next day. I doubled up the straps and it wasn't an issue again in 8k miles.
Snow. I would recommend a cover and mudflaps.
Definetly make sure you have the weight rating to carry it. (the s10 was very close). One unexpected benefit is that the traction with the weight hanging off the back is vastly improved.
Hope that helps. I've used that carrier for a couple years now and probably something like 10k miles. I've used trailers too...I hate them but will use them if I need to carry more than a couple bikes.