What's the purpose of using honey then if not for the benefits to the skin?
For the most part, people use honey in lye-based soap formulas for it's ability to enhance bubbly lather, which it does in a wonderfully fantastic way. Speaking only for myself and my own formulas, besides the increased bubblage, I find it also adds somewhat of a bit of a hydrating factor. I can definitely tell which of my soaps has honey in it, and which ones do not.
IrishLass