Mtnmanmike...file this in the FWIW category. I've usually seen webbing routed through the rings differently than in your photo.
Here's a sketch...
SMC Rings & Strap.png
And a link (scoll down to 3.3)...http://www.tothewoods.net/HammockCam...ion.html#Rings
A slippery half hitch is needed to back up this method as shown in the link.
I ordered my 7/64 Amsteel and hooks from Dutch last week. I plan on making whoopies (sounds kinda funny) for both my fiance's and my own hammocks. I've been reading up on the forum here, and learned more in two days than the previous two months! I plan on making continuous loops to replace the stock rope on the ENO, then girth hitching them to rap rings. I'll also hook my whoopies, and SRL to the rap rings to keep everything nice and clean (also to keep the rain off). In case of a failure of some sort, I can tie off to the rap rings with whatever I have handy. The dutch clips will be attached to the tree straps for a quick setup. I know there are a dozen ways to connect, but I like the versatility. I may carry some extra Amsteel to use as extenders should the need arise. I also look forward to experimenting with my setup in the desert and above treeline...I have some ideas, and I'll post them here.
gmcttr, that routing works on 1", but slipped on the 9/16" This webbing is also really soft. I run it twice around most trees. I have the option of being able to go around really large trees, but I haven't yet. Since I'm changing the whole kit now, I may never use it for that.