I also just tried fermenting honey, 1/4 cup honey per cup water. I put two cups water and 1/2 cup honey in a 1 liter water bottle and put in most of a yeast packet. The balloon I put over the top is like 1/4 inflated, it's been about 45 minutes. I'm supposed to wait until the balloon starts going down, because that means the yeast is dead. I have a feeling it won't take all that long. For the honey at least.