I just made a hammock from 1.1 ripstop with dimensions similar to Dave's. I think my fabric was 62" wide to start, but I know the finished hammock is nearly 12' long.
Whipping is definitely the most difficult part of making a hammock. Not that it's hard to do. The difficulty is finding the method that gives a hammock that's right for YOU! I just looked for the thread, but I can't find it I used a roll similar to what HC4U used in his HH clone thread. There is another thread that shows pics of someone taking apart a HH. I found that 5, or was it 6, rolls gave me the lay I wanted. I did not pull the sides too tight either. I didn't sew together the ends of the hammock though. I'm still not sure what the benefit of that is. I think it matters if you're using an attached bug net. I don't like those.
I'll try to describe my whip without pics and using less than 1,000 words.
I folded the edges to the center. Then I rolled/folded the folded edges towards the center on the bottom of the hammock. Like I said, I think I used 5 rolls (coulda been 6). I did pull the center and edges a little bit, but my edges are a little "floppy". I prefer that though. I don't care for the taco effect and like being able to push the side down to look around.
Like Shug said, just keep re-whipping until you find what you like. I think it took me about 8 tries to get it right, and I'm still considering making some subtle changes. The nice thing is it's easy to do
I don't use the string through the channel gathering method. I just have a rectangle of fabric with the edge hemmed all the way around. My suspension makes it easy to redo the whipping whenever I like, including in the field! I have 3 whoopies. 2 on each end, and one for a structural ridgeline. They meet at 2 aluminum rings. I have small Amsteel loops that are larks headed to the rings and over the whipped end of the hammocks. Does that make sense? I really like this suspension. It sets up quick, and allows me to take everything apart to experiment, except that the ridge whoopie's fixed end has the ring permanently attached, ie I made the fixed loop with the ring inside.
At the time this suspension didn't seem like anything unique, so I don't have pictures or anything. If you want to see it, let me know and I'll try to get some posted.