If it works for you then that's fine, but for me I'd have problems with that rig. For one the line is (presumably) a bit heavier than needed. My main concern would be crawling into camp after a serious 20 mile day of hiking and lazily tying my taut-line... I'm sure that knot works when properly cinched down, but I am also sure if not properly tensioned before weighting you will end up on the ground... As you say no big deal from two feet as far as injury goes... But not so for your gear. A small snag or rock under you and now you've got a hole in the hammock...
I know these aren't probably concerns of yours, but I'm just sharing what my personal objections would be to using that set up for what I do.
"We're the Sultans of Swing."