I tried this method and I liked it. At first I did not realize that I could put the ring in-line after the rope was already through the hugger. Once I realized that I could put the ring in-line, anytime and anywhere, the simplicity and flexibility of this system became obvious.
I used a ring on one side and a standard lashing method on the other. I found that only one ring is needed to get a tight ridgeline. Any adjustments can be made at the ring; thus, the lashing only needs to be tied once. At only 11 grams the ring is a welcomed addition.
Thanks for sharing the idea.