One question, will it work as well for no-see-ums? I assume if the hammock weight seals the opening closed it should work.
One extra plus is the saved weight from the unneeded net material. Instead of a cinch cord would anyone go to shock cord so it does not need any further adjustment?
For extra "outside the box" what if something similar was done with your tarp. You might need some minor spreader system just to keep the tarp from blowing into you, but the end result would be a tighter space (less heat-robbing wind movement, think tarp doors) and no need for tying out guylines. Quick setup, possibly less material (weight saving). In fact, a Summer design which totally concealed might only need a couple strategically placed mesh panels and then your tarp and net would be all one unit (hmmm...).