While others may use Kee Klamp fittings, or those from McMasterCarr (I have nothing against those fittings); I trust and like the look of Hollaender Speedrail more (www.hollaender.com).
Why you ask?
Because I like the look of industrial furniture, and being located in the LA area, being able to move your belongings easily is a huge bonus. And Ikea furniture doesn't lend itself well to surviving amatuer movers (ie every friend helping you move for free).
Plus, it's pretty original, and easily changed to fit your needs down the road.
I'm not that handy, could I do it?
Yes! While I am awesome (half at least, from my mother's side), the scariest part of this project is paying for the fittings and the pipe. But considering their lifespan, and multiple uses after one would get tired of using them as a bed frame, the cost isn't that big of a deal in the long-run.
After that, a general knowledge of hand tools helps; extra bonus goes to access to power tools.
Overall, I probably spent about $500-$600 for all the materials listed here, and my only regret is that I didn't do this sooner!
But hindsight is always 20/20, so I'll share my thoughts on that towards the end.