I voted hammock between the two - I just can't image being stuck in fabric coffin if choosing to wait out a heavy rain - can't really do anything (cook, eat, sit upright, pee) except lie there. If you add in a tarp, then you might as well use an UL tent in terms of weight/bulk/set-up.

Consider a floorless pryamid with inner net tent, Polycro footprint, stakes for ~1.5lbs/2.5L (add 0.2lb for a pole, but I just use a fallen branch). Fly sets up in 1min (3 stakes, pole, 3 stakes), and inner tent in an another minute. My favorite thing about 'mid tents' is that the interior is freely modular between a traditional double wall tent, and giant floorless vestibule. You can have a huge kitchen, leave muddy shoes on inside, use a low camp chair, and even dig an indoor latrine (#2 only when ready to leave ). With a good peak vent, I find my fly alone a 90%+ mosquito/black fly barrier (plays on bugs own survival instincts), so I don't bother with the inner tent until bed time.