I purchased a Hennessy backpacking hammock last year and have used it a few times. I found that you absolutely need insulation under your butt (maybe this should have been obvious but never having slept overnight in a hammock before, I didn't realise it at first). I use a 3/4 length Therma-Rest Z-Rest which folds up like an accordion. It's a good sleeping pad but I don't recommend it for the hammock, as it is very difficult to prevent it from folding up underneath you as you're trying to scramble into your sleeping bag. One of the less expensive blue foam pads would probably be easier to use.
I'm never sure where to put my boots - there's not a lot of room inside the hammock but I don't like just leaving them on the ground.
I want to redesign the attachment mechanism - I find it almost impossible to pull the ends of the hammock tight and fasten them at the same time. I would like to buy one of the self-locking pulleys that they use on sailboats and see it that makes it easier.
You do need a much warmer sleeping bag than you would with a conventional tent, which I suppose is obvious once you think about it.
The biggest advantage to the hammock is that you don't need flat, or even level, ground to set it up. And it is a great conversation piece <img src="images/graemlins/smile.gif" alt="" />
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"The mind is not a vessel to be filled but a fire to be kindled."
-Plutarch