Historically (and practically speaking) the "taut line hitch" is a knot created by and used almost exclusively by the Boy Scouts of America, and in fact
Ashley's Book of Knots, considered the standard inclusive work of all knots does not include it at all. Most of the rest of the world uses the "midshipman's hitch." The two are almost the same except for one slight difference; the "tautline hitch has 3 loops all of which are wound the same direction. By comparison, the "midshipman's hitch, starts the same but the last loop is wound in the opposite direction, creating a better bind on the knot.
The reason I do not use either of these is that when I am setting up (often in the dark, as I will be doing tonight), my knots are already tied. All I have to do is place my stakes and tighten. I am capeable (and practiced) at tieing knots blindfolded, but there is a secondary reason for this setup. As I don't have a long slipped loop around my stake, I can use a shorter length of line on all 4 of my tarp tie outs. Less line equals less weight. I estimate I saved close to 2 ounces by switching to the Klemheist on my tarp.
Here are two pictures of this setup. The yellow of the Klemheist did washed out some, but you get the idea.
DSCN0135.JPG DSCN0133.JPG
No pictures of the opposite end, but attached there is a 6" lenght of 1/16" shock cord, which works particularly well with the hammock trap. Hope that helps you see how I am set this up.