I also recommend the Ironmind Vulcan Squat rack for those of you looking for the ability to bench, squat, chin, dip, etc. They take up very little room and are adjustable for a variety of exercises. You can purchase the additional attachments so you can perform dips and chins.
The Vulcan Squat racks are not cheap, but they are very strong and very high quality. You can also purchase some that are similar in design from New York Barbell or Body Solid for less money than the Ironmind ones and they work just as well.
My Olympic lifter friend has a pair of racks from Body Solid. He loves them and lifts in the 230-450lb range with snatches, cleans, benches and squats and the racks have held up very well. I think he paid $150 for the Body Solid ones that look like the Vulcan Racks.