First night hanging out

I love it!
I was somewhat rushed to beat the dusk, as I decided to go at the last minute. Once I found what I considered to be an accommodating pair of trees, it took perhaps seven minutes to set up. I had made a "Bishop bag" by cutting a hole in my tent bag and stuffing the whole thing into it: underpad and all.
Dinner after dark, realizing I'd left the headlight at the house, and having to use the tent hanger light and the front light from the bike to see to make tea.
Entry to the hammock was a little odd, being as I'd only practiced twice before, in the comfort of my garage. I realized that I probably should hang the head a little higher next time, and really need to get the underpad and reflective blanket over to the right more after getting in... my feet were cold most of the 40 deg night.
The rest of me was warm in a 32° bag, and my feet got better when I laid my duvet jacket over them, but still cold from below. Upon waking I took a good look around the setup and realised several things:

I should hang more tightly between closer trees
I had a layer of condensation on the underside of the reflective blanket and the underpad was wet, as was the inside of the Undercover
I want to make better guylines, and bright ones too!
I can tie a truckers' hitch in the dark!

http://farm3.static.flickr.com/2531/...d9db596bf8.jpg
This is the morning view, sagging lines and distant trees

Really it's the condensation that concerns me the most: Did I do something wrong? This is the setup in order from outside to inside (bottom to top): Undercover, Underpad, Reflective blanket, Hammock, and a sleeping bag.
The Undercover was fairly close to the hammock, meaning I could feel every layer beneath me (though that was not uncomfortable), and there was a faint hint of moisture in the underside of my bag in the morning.
I thought I followed the directions, but will have to re-read to see if I made a mistake. Any suggestions?
I'll be making mods soon: quick-links at the hammock guy-outs, much longer treehuggers, with intermediate loops, some carabiners for tyoff, and of course the larger tarp. I tried to put Tonka (my longtail Xtracycle) under the tarp, and ended up cuddling close to the saddle and rear stays, the handlebars were distorting the tarp, and the panniers were out in the open.. so a late night exit to reposition and re-guy was necessary.
Both the area Park Ranger and the staff of the park commented on the Hammock set up, and Ranger was more impressed after I told him about the underside entry.
hints, tips, comments are welcome and invited.