I found a new Marmot Aura 2P for $200, which is in my price range, but the tent is worth $360. It's such a good deal, I pulled the trigger before the 1 in stock disappeared. However, if it's no bueno I'll return it for something suggested in the thread.
It might just be "the" tent though, since it's sub-5lbs and has some rather unique poles with two entrances. plenty big enough for my 6'2" height, too. I don't want to dismiss other ideas until I've taken it out for a night. I think the suggested Hubba Hubba looks more stormproof, but the REI Quarter Dome 2P uses essentially the same system and it hasn't been called out as unstable. Will test.
Pseudo-homeless: We have a yoga commune moving into my family's house, which means the room/apartment I live in is gone for the summer. Since I have to stick around to finish my second degree, I've got to live in the tent in the backyard 3 days out of the week. The other four, I get to head to the beach and work from the coast of Mass, but since the beach house is small, I'll probably still use the tent out of privacy. Also, the girlfriend wants to share for those weekends on the coast.
So, it needs to be livable. One big air mattress and some light blankets, some books, my bag and some clothes. A little less when I'm sharing it. Since it's summertime, it's gotta be well ventilated.
Final caveat: I always like the option to hike. Under 5lbs means I can always take it with me when I don't want to use my hammock; my backpacks can handle that extra luxury weight, though I wouldn't take it on serious hikes.
I realize more ventilation means it's worse in the winter, but if I have to sacrifice one way, I choose ventilation.