Roleigh,
This year I made the switch from using my beloved Contrail Tarptent to a MLD Bivy & Poncho Tarp.
I would conservatively say that the bivy adds 5 degrees F to as much as 8 Degrees F to the warmth of my bag and "feels" much warmer than my tarptent.
The bivy traps more heat than a tarptent, but with the possibility of having condensation inside the bivy.
I have an eVent top on mine and rarely have I had condensation issues.
There is a very generous amount of netting on my bivy to let the moisture from my breath escape the bivy.
For me, the biggest issue was to get my headspace adjusted to the confines of the bivy.
I happen to have a wide version of the MLD Soul Side Zip, so I have plenty of room to sleep on my side, roll over, and I have a ton of space above my head to put my shoes, ditty bag, Montbell Thermawrap jacket, etc. (I am 5' 6").
The only reason that I have my 40F Degree Atom bag is because I have a bivy, as I am a cold sleeper.
If I knew that I was going on a trip where lots of rain was a possibility, I would probably take my Contrail for the extra room. The thought of being "trapped" for hours in my bivy in a storm under a tarp does not sound all that appealing, but I am a newbie at the whole tarp thing.
If you want to see a photo of my Poncho Tarp & Bivy setup, go to the photo gallery and see the Emigrant Wilderness entry. There is also a photo of the MLD Superlight Bivy too, which my friend, Jeremy uses.
Hope that this helps you, if you are deciding to make the switch to a bivy & tarp.
P.S. Mary…thank you for your input. You seem to confirm what I was thinking, stick with what I have…the Hydrogen would be overlapping my two bags.
-Tony