Man's quest to get into space is hindered by major problems (e.g., system-development and capital costs, expense of putting mass into orbit, trapped-radiation belts, and environmental impact of a large increase in rocket launches). A multi-purpose low-earth-orbit system of rings circling the earth – the “LEO ARCHIPELAGO TM” – is proposed as a means of solving or bypassing many of them. A fiber-optic ring about the earth would be an initial testing and developmental stage for the Ring Systems, while providing cash-flow through a LEO-based, high-band-width, world-wide communication system. A low-earth-orbit-based space-elevator system, “Sling-on-a-Ring TM”, is proposed as the crucial developmental stage of the LEO Archipelago. Being a LEO-based heavy-mass lifter, rather than earth- or GEO-based, it is much less massive and therefore less costly than other proposed space-elevators. With the advent of lower-cost, higher-mass transport to orbit, the options for further space development (e.g., space solar power, radiation, and space-debris dampers, sun shades, and permanent LEO habitation) are greatly expanded. This paper provides an update of the Sling-on-a-Ring concept in terms of new materials, potential applications, and trade-offs associated with an earlier model. The impact of Colossal Carbon Tubes, CCT, a new material with high tensile strength, extremely-low density, and other favorable properties, and other new technologies (e.g., solar-powered lasers, power beaming to near-space and earth, and thermal-control systems) on the development of associated LEO-Ring systems is also explored. The material's effect on the timeline for the system development indicates the feasibility of near-term implementation of the system (possibly within the decade). The Sling-on-a-Ring can provide a less-expensive, environment-friendly mode of access to space. This would pave the way (via eventual operation at >1000 t per day by 2050) for large scale development of space-based technologies.