When I used to use the honey/water mixture, I would lightly coat the chamber with it and let it dry for at least 24 hours. That way some of the water would evaporate from the bowl and help you not have a wet smoke. I never had any problems with my cake doing the honey/water break in method.
One of the reasons that I don't do it now is partly due to laziness and partly due to experimentation. I used to use the honey/water method when breaking in all of my pipes that needed it. I then decided to experiment and try breaking in a pipe without using the honey/water mixture. It worked just as well without the mixture coating the chamber. I do however smoke really slow when breaking in a pipe that I am not using the mixture in because there is no barrier of 'protection' from the mixture. I don't really know if the mixture added any protection, but I figure that it's better to be safe than sorry.
That's also where the laziness factor came in. Once I found out that it broke in just fine without using the mixture, I figured why waste the time doing the process. So I nixed it.
Pipe Mud is sometimes made by mixing honey, water, and ash to make a mixture used to help fix some things in your pipe. Most people use cigar ash because it is more consistent, it can be smashed down into a fine powder better than pipe ash can be, and you can get more of it from one cigar compared to one bowl of pipe tobacco.
Some of the uses for pipe mud are; fixing a damaged cake, repairing the beginnings of a burn out, and it can also be used to fix an improperly drilled pipe that has a 'well' in the bottom of the chamber. But you need to let it dry completely before smoking the pipe again. It is supposed to dry up pretty hard.
I have tried filling in a 'well' with pipe mud before without much success. It might have to do with where I live. I live in a high humidity area and I the pipe mud wasn't drying up like it should.
The bottom line is; do what works for you. If you have been breaking in pipes with a certain method and you are not having any problems, then continue to do what you have been doing. Unless you want to try something new and different.
The only thing that I would say that is imperative during the breaking in process and should be done every time by everybody is; smoke slowly and don't smoke a pipe that hasn't been broken in yet outside. If you are breaking in a pipe and start tasting or smelling burning wood, STOP smoking and let the pipe cool all of the way down.