Yes, I have just Come back from a local bike swap meet. There are several people selling roof rack at unbeliverable price -- some new in boxes, some used.
One guy have a set of Tulle ( not sure how to spell it) for $15. Truck tow ball mount bike racks (at least 10 at this price) at $5.
If you check the local swap meet, I'm sure you can find something.
As for sealing the drill hole, you can use high temperature gasket form-a-seal.
You can buy a tube from auto supply store. Low temperature seal may soften when you truck sit under the hot sun. I have found the high temperature one tends to work better in long run and they cost the same anyway.

: You can always buy that $325 rack used for around $100. Just because they're
: $325 new, doesn't mean you need to pay that much.
:

• Check ebay,
• check used sporting goods stores,
• check the sale
  : board at the local university.

  :

• Go to a used car dealership that has a vehicle with racks on a topper.
  : Offer the man $100.

  :

• Know any friends with a welder? Welded racks are very easy to make.

  : I made two--one for a Plymouth Grand Voyager, and one for an aluminum topper
  : on a FS pickup for $80 total.
  :

: For your wood rack, try a steel backing plate, and some of that
: weatherstripping that you use between topper and truck bed would work well
: enough for a seal on the outside.

: Shawn