That's definitely a nice set up. If I didn't have my cover I'd build something like that.
Ironman - this rack is designed to fit under a cover when not in use. Not much use to you if you always use your cover, but nice idea if you take the cover off during an offroading trip (like TRR).
The tires, tote, and gas can are the only parts that stick out above the bed. In my case, the fire extinguisher and 10 lb Co2 tank sit high, but I have room to lower them if I wanted them under a cover.
The rack is built like a tank with lots of attention to detail. I took your advise and drilled diagonal drain holes in the bottom corner of each
**** (bed mount). I sprayed the drain holes with Rust-Oleum paint and applied several coats of white lithium grease to all of the unpainted surfaces.
These pics are a few months old. I will post more now that my setup is complete and my bed is Line-X'd.