I have a kelty 9, it was my first real hammock tarp. The first time I used a hammock, I just had a cheap wallyworld tarp. But after that, it was the Kelty. Still have it,'but haven't used it in a while, as I know have a WL Tadpole.
As for the waterproofness, I haven't had to put anything on the tarp. Works great as is.
I'm a member of PETA!!!!