OK folks there are more ways to rig a hammock than I could ever imagine.
I've recently gotten back into trying a hammock and am pretty sure I want to change the suspension out.

First I'll tell you a little about what I have:
I have a Grand Trunk Double that still has the original black rope threaded through the ends. I have replaced the original heavy carabiners with some lighter weight ones I already owned. I do have a set of the ENO Atlas straps but I think I'm going to return them.

Now for what I was thinking of doing:
I was thinking of ordering some 7/64" Amsteel Blue and making a couple of continuous loops for the channel ends and use a larks head to affix a descender ring to the end. I was then planning on making a couple of whoopie slings and connecting them to the ring with another larks head. My reasoning for using the continuous loop and ring were to act as a drip break for the suspension so rain wouldn't run down the whoopie sling and onto my hammock. I was then thinking of just using the standard webbing with a marlin spike method to connect the whoopie sling to the tree.

Since I am fairly new to all of this I now to my questions...
1. Does this sound reasonable? I feel as though I'm forgetting something as it seems pretty simple.
2. What are people's thoughts of using 7/64" Amsteel for the continuous loops to run through the end channel? I'm a little concerned with using such a small size diameter and it putting too much stress on the end channel of the hammock and damaging it. Should I think of using a larger diameter Amsteel?

I realize this turned into a pretty long read just to ask a couple of stupid questions.
Thanks for reading and thanks for any suggestions/ideas in advance.