OK, test over. It works exactly like I thought it would with the Nano. Since I just recently sold my HHULBA I can't test the concept on it. Though why would I since it has a net. Anyway...So, as long as you don't mind emptying out the hammock when you want to have the net completely out of the way than it's a super easy process to simply open one end and slide it all the way over to the other end and stuff all of the net in it's attached sack. Maybe with a really thick hammock it wouldn't work but it does work with the Nano-7.
Last but not least, like Hawk said the new WB net seems to work without going through the hassle. And...it weighs less.