I'm not quite following why you needed to sew on the grosgrain ribbon. One of the beauties of this design is that the channels are already there! Did you chop it down for a more exact fit or did you double it up? I must have missed that.
Versitility in my gear is a highly desired asset. I can still use mine as a poncho liner, with a velcroed head slit . It can be an emergeny sleeping bag with the ends gathered tight, and if I ever need to go to ground in extreme cold this is a great liner along with a poncho and space blanket for a poncho tent (alpha tent). This application also has a very small IR signature.
In the summer I use my poncho as an A sym diamond tarp. It has kept me dry in some pretty nasty downpours. Granted it's pretty minimalist with only a 9' ridgeline, but it works. I don't add a real tarp to my gear until it starts to get cold.
Overall, this is another great use for the esteemed poncho liner or woobie.
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