Yoda, thanks. That's almost exactly what I'm looking for. I say "almost" because this requires two pieces of hardware (aka bling). Can we do lighter and less ostentatious?
My one attempt at a double-purpose lightweight belt uses a plastic buckle, so I limit its use to hanging my pack from a tree. It is also less than satisfactory as a belt because it places a second side-release buckle (although a narrower one) in the vicinity of my pack's hip belt buckle, so I can (and have ) mistakenly unfastened the wrong buckle and dropped trou when trying to take off my pack.
I'm sure there's a way to lighten it up some, maybe cut the webbing to the exact size needed, so all you have to do is hook both ends to the Dutch Clip, thus leaving off the Tri-Glide.
"yesterday is history, tomorrow is a mystery, but today is a gift---thats why its called a present" - Master Oogway
It's always best if your an early riser!
I hung my hammock one night using a Bison belt to get more length out of my straps. It was a really big tree and my 7" straps wouldn't quite make it. Worked just fine.
I think it's a good idea to have a cinch buckle belt for backup. I had to borrow that belt I used in the emergency and it was a wide one. But one made from 1" webbing would work for me.
I do live the idea of the fold out V buckle though. They are quite strong and with a biner hooked to it you could climb and repel with it if you had too, I guess.