i`ve used this meathod quite a few times & it works great for gear hammock, water bag, etc, as well as a place to let your wet rain gear drip dry under the tarp.
the trick is getting the set-up lines orginized in a way that it`s easy to put up & adjust.
i made a really small sack (mabey 3" deep) that i put over the top of the treking pole. it has the lines permanantly attached & i store the lines in the sack when not being used.
i belive it weighs about one oz. ...tim