(Insert typical "I'm no expert but..." disclaimer here)
I sometimes hang my bb so that when I'm laying in it, the ridge line is loose and actually sagging a fair bit. It is quite comfy and I usually pull my self closer to the head end when I do this, and lay on a more pronounced diagonal. I also raise the foot end a little in this configuration.
Other times I hang it so that the ridge line is just tight. It has some mild tension on it but it is not really tight. When hanging this way I move closer down to the foot end. I also usually hang it this way when I have the yeti on because the shock cord tends to negate any benifit I get from hanging it loosely. I usually hang it straight across this way and I don't seem to move. I never have it taught as I don't like it that way at all. But that's me. I basically let the terrain dictate how I will stake it out, but I prefer higher on the shelf side and middle of the road on the zipper side.
I hang it as low as possible but again terrain dictates. often the underbrush is thick and deep so it can get a little lofty. but some times it's just missing the ground by about 5-6 inches . Iv'e not yet ever streched and touched the ground. It stays put pretty well.
The original BB stuff sack kinda fell apart so I made a bishop style bag out of one I had laying around. I used to use my snake skins but it all seems to pack nicer in a regular stuff sack.
I think there are no real rights or wrongs in hammocking. Heck I don't even have a "perfect" for me. It changes depending on mood, area, or weather I'm in. Everyone has a slightly different way of doing thing, some are way different. For example, Shug has said he lays with his feet completely opposite to the foot box. (actually kinda comfy by the way), and the other day I lay with my head in the foot box, also kinda comfy. I have even slept directly down the center on the "ridge" and let one leg hang over into the foot box fold. You just gotta play around with it try everything. Try what others recommend then try it opposite of that, see what ya like. you'll find your sweet spot(s) sooner or later. If not try again.
That is my favourite thing about this forum next to the great people, is so many different opinions and ideas that I get to go "OH YEAH, why didn't I think of that!" then go running outside to try it.