I find these set ups ideal. I'm a big boy (300+ lbs) which means that my options are a little more limited, but the COMFORT! I actually whip 2 tablecloths together for a double layer hammock (since mosquitoes are the size of pelicans in Louisiana), and it also makes for a great place to stash a sleeping bag since i don't have an underquilt yet. It's incredibly versatile, stylish, and yes, definitely heavier than the rip stop I was carrying, but I don't suffer from near as much shoulder squeeze. In fact, if I can't get comfortable in my setup, it must be because I don't want to be.
Of course, since I am a larger person, I don't mind carrying a few more ounces. To me, it's still lighter than taking a tent with poles and whatnot, and it compresses much more. Though I speak from the shallow side of experience since I've only just started seriously camping in any form at the age of 31 now 32.
Ultimately it's going to come down to personal preference, and since I'd rather sleep better in the wilds than I do in my own home, I'll choose this set up every time. I'll just have to find ways to lighten my load on other articles in my gear.
Btw great looking setup Papa Smurf. I tend to go for a little more flashy, but I love the natural look. I didn't recognize it as a taffeta hammock upon first inspection!