I was trying to use the minimum amount of cord and accessories needed for hanging the tarp, and I was planning to use the tarp for my rain gear (as a sort of cape). With this method, you would only need two stakes and cords for guylines.
Last night, I added a ridgeline to the mix. It works much better -- the fabric stays taut, so it holds up to the wind much better. The benefit of putting it up this way is that the tarp can be put up by simply making a ridgeline and two anchor points, then clipping the tarp up. That means that the time between having the tarp on as rain gear and having the tarp up as a shelter is measured in seconds. At a cost of an ounce, it is significantly more stable and offers much better protection. It rains regularly here, so I should get a chance to try this soon.
Weight of tarp, hammock, cord, stakes, carabiners, and netting works out to 32 oz. Don't have my insulation worked out yet. Double use is present with the tarp as rain gear.
I'll try to post pictures later.