My system is a 2 step setup. It is the same as a webbing setup, but only lighter since you don't use webbing for the whole length of the suspension using whoppies instead, attached to the tree hugger via nacabiner, dutchbiner, carabiner, or permanently attached. Same simplicity, lighter.
My hammock is up in less than a minute and my whole setup weighs less than 20oz including all suspension components.
What you need:
Two six foot lengths of polypro/polypro webbing for tree huggers with an eye sewn on each end
Two dutch clips or two carabiners
One of these: nacrabiner, carabiner, or neither if you run your sling through the eye before finishing your whoppie sling
Thirty feet of dynaglide line to make two whoppie slings to be attached via locked brummel.
Small needles with big heads. These are not sharp needles, they are sold in a pack of 4-5 at your local fabric store, one is usually blue and plastic, the others metal.
Making the setup:
One whoppie sling on each end of your hammock:
See the whoppie sling thread for how to make slings, make sure you make the end that attaches to the hammock properly.
Take the webbing and cut 2 6 foot lengths. Sew an eye in each end, sew it strong. Sew a dutch clip(or carabiner) into one eye of each hugger.
See loop/shackle thread for how to make a nacrabiner or use a carabiner instead for a weight penalty.
Attach the nacrabiner to the hugger and to the sling, or simply clip a carabiner to the hugger and to the sling.
wrap tree hugger around tree 1 and clip onto itself
wrap around tree 2 and clip onto itself
adjust whoppie sling to desired lay
oh yea, make your slings from dynaglide, will pack really small and be really light. Polypro is the lightest webbing. No knots, no marlin spikes, no time.