I use a hammock setup and vastly prefer it to sleeping on the ground. But it is definitely a system. Hammock, tarp, underquilt, topquilt, etc. I used it on a 4 day backcountry trip in October this year with temps to the teens, snow, and wind. It worked okay, but under those conditions a tent would have been more functional for getting completely out of the elements, even if the sleeping wasn't as good. I woke up to 18 inches of snow on day 4 and had to bail off the mountain. I found that getting dialed in with your hammock setup takes some practice. If you have the experience, or time to get the experience before your hunt, then I think it is doable. If not, trying to figure it out on the side of the mountain is not great.
For what it's worth, my whole setup with hammock, tarp, and quilts is sub five pounds. I think that compares pretty favorably with the weight of a tent, pad, and sleeping bag. Also, good hammock gear is not cheap. I am several hundred dollars into my setup.