A small difference of opinion here - the whipping isn't really intended to stop the support rope from sliding off the end. The bulk of the hems/knot in the end of the body material does that. The whipping is really only there to keep the ends gathered the way you want them while there's no tension on the support. I've hung several times (while adjusting the tension on my hammock body edges) with no whipping at all.
As for the wire ties, they work well. One by itself tends to let the edges slip though, so I double over the 'pulled corners' and add another tie just behind the first one. This locks off the corners and keeps the edges taut.
I've used ties on two sub-freezing trips now with no problems at all. If set up properly, the ties (or whipping) don't take any pressure, so there's not much of a durability issue.
As far as getting them good and tight, you can get a wire tie gun ( ~ $10 at Walmart) or do what I do and just use a pair of needlenose pliers. Once you have the tie hand-tight, use the tip of the pliers and twist, which will let you tighten them another 5-6 'clicks'.
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