I still want to experiment with ways to insulate the bottom...using a windbreak, keeping the hammock low enough to lay just on top of a bed of insulation (grass, bows, etc.).
You will find there are actually a lot of winter campers out there that use hammocks, and there is a trick to it.
Obviously, bringing anything into the sleeping area with you is useless. The loft of whatever is in there is completely squeezed by the nature of the hammock, making it useless.
The pockets underneath will get you colder, but don't give you full coverage, and will only get you so far.
The real cold weather trick is an underquilt. Now, I am about to give you a very expensive, ready to go source, but keep in mind, you can always build your own, and there are plenty of plans out there for them. The idea with an underquilt is that it suspends under your hammock, providing you insulation, but not being crush. If you use an overquilt (basically a blanket with a foot pocket) on the inside, theoretically an overquilt and underquilt pack to about the same space as a sleeping bag. The bonus is that hammocks are usually smaller and lighter than tents, in
some cases.
You can look at carrying an underquilt as negating some of the positives (small and light) of the hammock in cold weather. But, when it gets cold enough for that, I am generally doubling up on the sleeping mats and doing other "cold weather" stuff that has to be taken into consideration too.
Anyway, here is a link to
Jacks R Better quilts, which makes very expensive quilts

Remember, you can always do your own.
B