Here's what I did:
Get two rubbermade type storage bins (get the same size so they fit together, and ones with a tight fitting lid)
Drill a bunch of holes in the bottom of one of them
Put the one with the holes inside the one without
Drill some holes in the cover (one large enought to put the hose from the aerator through)
You'll be able to lift the bin with the holes and kind of put it back in crooked to allow the water to drain so you can easily grab the eels.
Change the water once every two or three days and add ice (I keep mine next to by freezer in the basement and fill old two liter bottles with water and rotate them between the freezer and tank). Keep them in a cool place, like the basement, and you'll need less ice.
It works pretty good. I pretty much copied Canalman's setup and made some changes to fit better in my fishing room.
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