Once you get a hammock system dialed in, you'll never go back. I guess it's either for you or it's not - I'm guessing a lot of people who didn't like it either didn't have the right equipment or didn't have it set-up correctly (you should be able to sleep flat or on your side if hung correctly. I know Hennessy hammocks are loved by many. I've been using a Grand Trunk Ultralight. It's a simple no-frills hammock and works great when you upgrade the suspension.
You do need to insulate from the cold air circulating around your underside - I use a cheap Wal-mart foam pad for this and along with my cheapo mummy bag I've been comfy even when it's snowing outside. This season, I'm going to try a Big Agnes sleep system that has a sleeve for the pad included.
I'm going to do the High Buck hunt this year for the first time so I'm slowly upgrading my gear. I think the GT Ultralight will still be my hammock due to low weight and easy to use. Mine has held up very well.
Check out hammockforums.net for more info than you will ever need! I like to keep my setup simple, but I get a lot of great ideas from there.