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The Curious Bag
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<h4 class="dechead">On One Hand: Honey Has a Similar Consistency as Corn Syrup
Honey is similar to corn syrup in texture, so it is often recommended as a replacement by such cooking resources as The Cook's Thesaurus and Joy of Baking. However, honey may crystallize at room temperature, whereas corn syrup won't. A test run is advisable.
On the Other: Honey Has More Flavor Than Corn Syrup
Honey is sweeter and more flavorful than corn syrup. To deal with this difference, try substituting less honey and add more of the wet ingredients to make up the difference.
Bottom Line
It is fine to substitute honey for corn syrup. Not only does honey have many more nutrients and trace minerals than processed corn syrup, but you may actually prefer honey's flavor. Any substitution may take experimentation to get it perfectly right; but cooking resources recommend a simple one to one substitution, so try that first. You may also want to experiment with treacle, molasses or agave nectar---they all have more nutrients than corn syrup, and they each introduce their own flavor.
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