I also started out with a hammock like this, and still use it for summer lounging; it's a great hammock. It definitely comes with two 'S' hooks, they are permanently attached to each end.
A cheap and very easy suspension system can be made by taking, for example, a 16 foot length of rope, folding it in half so that you have a double 8 foot length, and then tying a series of granny knots in the halved rope. You now have one side of your suspension system. Wrap the rope around the tree, and through one of the loops created by the knots, and then hang your 'S' hook on the knot at the appropriate length. Repeat for the other side. Using this method you can put your hammock up in about 1-2 minutes flat. These ropes be folded up and stored in the hammock stuff sack, no problem.
I know what they say about ropes; hopefully this type of system is not included in that, as I have never seen any tree damage from doing it this way. Hey, I love trees, and if I thought I was hurting trees, I wouldn't do it this way, but I also have a strap suspension system for a much more expensive camping hammock, and I don't see any difference with doing it this way.
Again, great hammock, and if you want a mosquito net, you can use the ENO Guardian, or rig your own. With a hiking tarp, such as the Kelty Noah's tarp, you have an awesome warm weather camping setup. But just on its own, this is a great lounging, napping hammock. Guaranteed to be super comfortable.
[If you don't understand my explanation of the rope tying, let me know and I will try to make it clearer]
Filth. Flarn. Filth.