Or you can make a two-layer hammock from 1.9 oz, and have a pad pocket. Plus, two layers will stretch less and therefore be a little more comfortable.

DWR is a good treatment for hammocks. I've slept in a completely non-breathable one before (the Crazy Crib) and I never had any condensation issues...which was very surprising. I'm laying in a silnylon one right now (new one so not much experience with it yet) and I haven't had a condensation issue. Of course, it's inside and not hot...I'm pretty sure it would make me sweat if it were warm out.