If you read my earlier post about my hammock, you know that I was waiting for rings to come in from REI. Not to be known as a patient man, I made them up at work today. They are 2" OD with a 1 1/2" ID 5/16" thick.
I've read that the descending rings may slip, but with mine I have a 1/4" flat surface that pinches the webbing tight. No slipping here!

Anyway...this is my setup.....I cut off the long black webbings supplied with the hammock as I thought they were just way to long and way to complicated to setup. I tied my 2 rings to the shortened end webbing at the head and foot of the hammock.

I then used 4 tie down straps for my webbing. They're cheap and strong.
The first one is kept long and I just tied a over hand knot to form a loop at each end. I did this so that I would have extra long reach around the largest trees. These were extra straps that I had when I frayed it tying down some fire wood on a long commute. I had to cut the hook ends off.

My next tie down strap, I cut off the hook so that I could use the sowed loop to attach my carabiner. The carabiner is clipped to the tree huggers and then it runs to the rings I made and are attached there with a Garda hitch. Clean and simple! It may not be the lightest or even the most compact, but I'd bet ya it's not too far off.
I then ran a separate line from carabiner to carabiner. I just tied off my mosquito netting to this in order to keep it off my face.

I'm sure I'll be tweeking it more, but for now I'm more than satisfied.

What I like about it is that the rings are attached to the hammock and so all I have to do is put up my tree huggers, attach my carabiner to the loops in the tree huggers and run that strap, which is already attached to the carabiner to my rings and tie off with a Garda hitch. You snug up each end little by little so that you have your hammock centered and your done.
I love its simplicity!