Beanie: I used the sticks in the ground method for ages, and it worked brilliantly! Definitely one of the best ways to store your shoes I've come across. I do find though, that having them hang off the side of the hammock keeps them much closer to hand, as well as slightly less effort of getting sticks into the ground. (which can sometimes be rocky, or just plain annoying...) It also means you can swing the hammock without worrying about sticks digging into your kidney. Should you wish to that is... =P
Moel Siabod: You could definitely do that, although I imagine it'd be a bit of a fiddle to get them on properly after a beer or two around the camp fire. Or even worse, if you're in a hurry when nature calls in the middle of the night? With my trusty hanger, (which I now completely love!) I just throw them on there and I know they'll stay there and can be grabbed easily.
Patroclus: I'm really struggling to make it much smaller. I think I need to try a new material, because the lighter versions I've made with thermoplastic haven't been sturdy enough to hold two big walking boots.
Anyone fancy making one out of titanium?