I have a small kitchen, and even my collapsible drying rack was taking up too much space. I wasn't entirely sure this over the sink choice would solve problems or create them, since I often have more than one plate to wash and dry.
Turns out this works just fine. The first plate lays flat. Then the second, third, etc., I tuck the plate lip into the next metal bar and rest against the previous plate. The result is a nested and slightly angled draining system.
Holds lots of glasses (I have heavy drinking glasses and don't worry about this thing collapsing), and to store it when not in use, I hang it on two movable magnetic hooks on my freeze unit door.