The paracord rappelling was discussed on the forum many times. I was always arguing positively for that. Yes it's very dangerous but doable if you know what you are doing.
However since then I switched from paracord to a much better rope - the 3/16
Amsteel Blue. It's 10 times stronger and much more durable, also it's lighter than paracord (see the specs). I'm using it to hang my hammock in the woods all the time and it works very well. I have a 100ft piece in my camping/travel survival kit. Add a huge but lightweight aluminum carabinner, which you can find at some stores in form of a padded carrying handle (I've got mine at Kragen) and you can rappell much more safely. Add a 3/16
belay rack for easier descending control.