Built mine very similar in design to Sarge's. But I made it out of 1 5/8" .083 wall DOM 4130 Chrome-moly tubing I had left over from a race car project. Stuff was about $10 a foot at the time. The "transom" part is made out of 13 pieces of 1 1/2" .062 wall Mild steel square tubing (from Yamaha ATV crates), notched on the ends to fit around the tubing, all welded together (just stitch welded). Threw it together at the house one afternoon because I needed to hang a 225 HPDI Yamaha on it while I had to do a transom repair. The motor stand; with the 225 on it, was still very sturdy even with 550 lbs on it. The stand itself is about 70 lbs total.
I overbuilt it thinking I'd use it at work; and we do. I did pick up a set of steel wheels for it. 2 of them are casters and 2 are stationary. Makes it a LOT easier to work with when a customer brings in a motor without it being on a boat. Right now it's got a pair of Yamaha 25ESH short shaft twin carb 25's on it. One facing one way, the other facing the opposite direction (one on each side of the "transom" ). We use a 100 gal galv steel horse trough for a test tank and the stand fits right over the top of the trough. Can even put them in gear and throttle them a little, though I suggest not doing that on anything larger than 25 HP. Don't ask how we learned not to do it with a 60/40 jet.