thementalmechanic - Dude, you've got to give us more info than that! What seasons and temperature ranges are you expecting? The gear someone might suggest for Arizona will probably be lacking during a Minnesota winter. What gear do you already have? In what temperature ranges have you already camped?
I'm a big tarp and "I don't mind a few extra ounces for comfort" guy. What I suggest will be different from that of an Ultra-liter. It's all good, just different preferences, experiences, and locations. I'm a sea kayaker. If something breaks during an adventure, I can't just run down to the nearest REI. So I have more of an eye on gear robustness and redundancy, which is not the same as multi-use.
Sometimes people forget that when they started hiking/camping, they learned many little lessons. And I'm guessing changed gear - boots, packs, tents, sleeping bags - as they gain more experience. Problem is, when they switch over to hammock camping, they expect it to be as easy/simple as suspending a hammock between two trees. As with tent camping, there's a learning aspect to hammock camping. So the most important part is to start.
What is your experience so far?
Have you read Derek Hansen's book, "The Ultimate Hang"?