Now we're talking, I couldn't agree more. For size and weight I don't think you can beat a hammock. No tent poles means you can pack it into a very small space, and it weighs much less then tents.
I once hitched hiked from San Diego to Philadelphia in the 1970s with a mesh hammock and a sleeping bag.
Hammocks open up so many more possibilities for places to sleep. You can sleep between the trees on a very steep hill, steep enough almost no one would find you. On my hitch hiking trip I slept tied to the underside of a steel girder bridge in Arizona. Slept just fine until the trucks started bouncing me around in the morning. You can also go high in the trees, safe (r) from people. If your biking, tie a rope to a rock and toss it over a limb, tie the other end to your bike, and pull it up and tie it off before you go to bed. Most people never look up, but bicycles are shiny. Consider covering your bike with camo. You can also sleep over top of wet and water areas, watch for rising tides. Jungle hammocks, as we used to call them (the kind that have mesh for bugs) can also be set up as a tent. You stake down one side to the ground and on the other side use a stick or hiking pole to make your tent. You can also tie it off to a bush or low hanging limb on a tree if you don't have a stick or hiking pole. I use a ground tarp or footprint to protect the hammock from the ground. You don't want holes or tear in your hammock.
I can tell you I had a Hennessy Hammock, and I didn't like it. Every time I set it up it stretched, I could never get it tight enough between the trees, I'd wind up on the ground. I sold it on eBay and purchased a ProForce Jungle Hammock. Admittedly it didn't come with the rain tarp, I purchased that separately. A lot of people like Hennessy, so I guess they're good, but I like my ProForce much better.
Finally if you don't want to spend the money for a jungle hammock and go even smaller. You can purchase a simple, cheap mesh hammock at WalMart and use it with a bevy. This gives you all the options I listed above.
I think this should be posted and started into a new thread, so I'll start one.