I have been sleeping in hammocks for a little over 4 years now and find that my sleep system is comparable,and at times lighter than most ground setups. I love the idea of not dealing with rocks, roots, and uneven ground.
I will agree that some of the cheaper options take the wind out of the sails of some new hangers.Sleeping in a hammock with a pad or air mattress sucks, as it doesn't allow you to get the comfort of the hammock conforming to you. And a lot of the cheaper options like the snugpak, while effective, are heavy. That doesn't mean that lighter has to be more expensive, but it helps to have some guidance from experienced hangers.
