I'm currently testing the Grand Trunk Nano 7 Hammock, which is the lightest commercial hammock I've ever used (or seen). Alone, the Nano weighs only 5 oz (142 g). When I added my "bombproof" suspension, I more than tripled the weight of the Nano!
Disappointed, I researched the forums and learned a TON about new materials and methods for suspension. After switching to Whoopie Slings, toggles, and 1 in (2.54 cm) webbing straps, I brought the hammock to a mere 7.65 oz (217 g) complete!
I am using Amsteel Blue 7/64 in (.3 cm) cord, an aluminum stake cut in half for the two toggles, and 1 in webbing straps. I did an eye splice directly through the hammock and my buries are as small and tight as I dare get them.
I owe a lot to this forum (specifically SloBro and GrizzlyAdams) for the information on Whoopie Slings, which was really the catalyst for the amazing weight drop.
You can read my review at BackpackGearTest.org, which will be updated over the next few months.