I think Mike had a photo of his rig on here somewhere. It's a good one at 1/10th the cost of a commercial rig; had been looking for a similar trash can for a while and finally found it at Walmart. Right size, right height. I had a couple of extra pegs from a Mangrove HipShooter (a GREAT basket if you're traveling, fishing surf or off jetties) that I attached to the bottom of mine. An inch or two of water in the bottom to keep your running line wet and lubed and you're in business. Mike's got his bolted to a solid base; there's pros and cons both ways -- mine won't ride in the boat while trailering.
Some folks have complained that the HipShooter doesn't ride right for them; if you're wearing light shorts it may tend to pull them down (particularly in surf). I use a 2" cordura SCUBA weight belt (no weights, of course) and let it ride low enough that my fingertips don't clip it on the strip.