I bought one a few years ago for elk hunting. What I found is this-
Pro- fairly easy to set up, once you learn to figure out how far apart the trees you set up need to be.
Light weight enough and compact enough that they are easy to backpack.
With the flt, you stay dry.
Con- very uncomfortable to slepp in unless you are one who easliy sleeps on your back. I do not.
It is a royal pain to crawl into a sleeping bag inside the hammock. If you have to get up in the night to pee or whatever, repeat the process.
Not warm. Tried a pad underneath me. Even a bigger pain in the arse to crawl in and get situated.
No way to shelter your gear, other than right beneath you.
I have since switched to a one man bivy tent. weight and packing size is the same, more room, and can squeeze some gear into it as well.
I cannot sleep laying flat on my back, thus the hammock did not work well for me at all.