Akee,
Here's a few simple rules that reflect my thinking on hammocks and tents.
1. Good ground and bad trees take a tent.
2. Bad ground and good trees, take a hammock.
3. High wind and cold weather take a tent.
4. Light wind and warm wether take a hammock.
5. Rain is a wash
Bad ground - swamps, slopes, rocks, hordes of biting insects, damp musty jungle humus that rots your very boots off.
Good Ground - Pine needles, level, good drainage, leaves.
Bad Trees - bamboo, saplings, barren ground, small scrub.
Good Trees - Anything that will support your weight, spaced at reasonable intervals.
The hammock gives you the wonderful advantage of camping on really bad ground that you could never pitch a tent on. Steep slopes and swamps are no problem provided that you have adequate trees available.
A tent is better in wind and cold, but you have to have decent ground to pitch it on. A slight incline is fine but too much is a problem.
In my area of Brazil I take a hammock for lowland "jungle" camping (no true jungle where I live but you wouldn't know it from the hacking). Steep slopes and hostile ground are the rule. I stay with the hammock when camping above the lower forests in scrub areas.
Above this scrub forest there is an alpine ecosystem that is too beautiful not to explore. There are no trees and the slopes are steep and rocky. There are flat spaces where a small two man tent is great. Other areas are hard to fit a bivy sack. High winds and dense cold fog demand a good tent, or a warm bivy and bag.
I've been searching for a one-size-fits-all shelter system and haven't hit on it yet. My best solution is a hammock for the lower elevations and a bivy for up high. It all depends on the weather. I wouldn't want to try rainy season in a bivy. I'd sleep fine but cooking would be a hassle.
I don't do much winter camping but keeping warm in a tent is far easier than a hammock. In hot weather the hammock is great. Where tents will get stuffy, the hammock stays ventilated. Hammocks can be lighter weight as they are all nylon and string as opposed to poles and stakes.
I'm a big fan of hammocks where appropriate, but I'm not selling my tent or bivy sack any time soon. Mac