We just did a 4 night/5-day C&O Canal towpath trip where 2 of our group used hammocks (one Hennesey, one home-made from a kit). The hammocks can be rigged as biveys for on-ground use (they almost needed to do that the last night - trees were large, separated a good distance, and had poison ivy on the trunks).

For privacy, the hammock users usually set up at one end of the camping area and set up the hammock's rainfly as a privacy screen. Weather was dry but for a brief shower one night, so they never had to choose between being dry and moedsty. Or they used a tent from someone else in our group for a few minutes.

For comparison, I used a 1-person Sierra Designs Lightyear CD. The hammocks are probably 1/2 the weight of the tent, pack smaller, and let you dispense with a sleeping pad. OTOH, I had more room in the tent, and better privacy. On sale, my tent and pad cost about what the Hennesey Hammock costs. OTOOH, the other five teenage boys in our group though the teen with the hammock had the COOLEST shelter (and a really cool mom for sewing it up for him) and were discussing how long it would take them to save up enough money to buy one. They also liked the adult's hennesey.