In reply to mouseliveson:
> Is it common to use a single sling as an anchor or do people tend to use two slings or equivalent for redundancy?
It is very common. The sling is not the anchor. The sling is used to equalise a number of anchor points.
e.g. you place three nuts appropriately, put a karabiner on each of them, put a sling through the three and bring it to a "pinch point" perhaps via an overhand knot. The sling is now acting like three sling (call them "loop A", "loop B" and "loop C"). If somehow some part of the sling fabric in loop A fails and snaps, loop B and loop C provide redundancy.
This is a common diagram in instruction books.
e.g.
http://rockandice.com/wp-content/uploads/Article-Images/News-Photos/Feb-201...