I've just found myself with a large amount of <1oz. spinnaker, mostly bright colors (which I don't particularly care for) but the price was unbeatable. I've been doing a number of test to it and it seems to be reasonably water proof. Not the absolute best, but I am planning on treating it to another thin layer of silicone before taking it into the field.
I'm tempted to see about making myself a hammock out of it as well. Has anyone made a hammock out of spinnaker?
I know it's not as strong as silnylon, but it only needs to hold about 160lbs. I'm not the heaviest guy out there.