Saw this and was definitely interested. It's a pretty well thought out layered approach.
Dave knows his stuff, You east coast / mid-west boys really like hammocks. Where I am from they aren't as popular but with snakes and scorpions about I can see why they're considered useful in da south & such. For weight's sake, I keep my cover weight down by using a back pack bivy sack I bought from Cabelas as a water proof full length cover bag I can crawl into. It has a built in tent bottom and can be sealed up like a tent. It is designed to be used with a sleeping bag that you put into it but I don't always carry the sleeping bag. When I am minimal back packing I'll use an inexpensive light weight 40f degree rated sleeping bag that I picked up from a local sporting goods store for $29.00 with that and a back pack pad (similar to Dave's). I'm using very similar water storage systems and fire starting gear to Dave's. I like having a leatherman multi-tool as one of the knives. My bulk is lower than Dave's and weight is probably lower too. I'm substituting the light weight sleeping bag for the wool blanket for a similar load out. Just a couple cents from Colorado