I have a DIY Speer hammock that I converted into a DIY Hennessey. I much prefer the Hennessey design. I go to great lengths to avoid sleeping on the ground now. Sleeping on the diagonal in a properly-designed and pitched hammock, you'll hardly notice that you aren't flat, as long as you sleep on your back.

A rectangular 8x10' silnylon tarp pitched separately from the hammock is very flexible in its options. Pitch it high for light rain, increased visibility, and being able to stand up. I can even cook dinner in the rain while laying in my hammock under my tarp using a stove! (Not that that's a recommended practice in bear country! ;))

Here's Ed Speer's site. I don't like his hammock design, but he has excellent instructions and tips (no affiliation):

http://www.hammockcamping.com/

My current bugnet is just a length of black no-see-um draped over the hammock, but I plan to attach it with a continuous Velcro strip. Here's my setup from a recent trip:



Edit: This is a reply to the main thread. Sorry for the misplaced reply.