So RockyMounts got back to me today and this is what they said:
"Since the Ranger does not have factory tracks like Toyota or Nissan I would go with the Locking Clutch. You will have to have a place to hard mount it."
And this is the product that they recommended:
Definitely a more cost effective ($49.95 instead for the RockyMounts Locking Clutch instead of $72-$80 for the Yakima Locking BedHead) alternative to the Yakima Bedhead.
I also found this video on Youtube describing the installation / mounting of the bike using the RockyMounts Clutch SD:
While were on the topic does anyone know where I can buy a bed rail track system for my Ranger? Did Ford start manufacturing this accessory to stay competitive with Toyota / Nissan?
Thanks again for your help. This forum has opened a whole new perspective on what I can accomplish with my Ranger.