1.3 pounds is not exactly ultralight. A hammock without a suspension system should be well under a pound. I have a 7 ounce hammock, the Grand Trunk Nano 7 http://www.amazon.com/Grand-Trunk-Nano-7-Hammock/dp/B009M5QRUG
I used this to thru hike the Pacific Crest Trail and it held up great.
backcountrybumThere is a big difference between lightweight and "ultralight" as you have mentioned. I'd say the majority of people hammock camping have hammocks over 7 ounces though.