I've used honey in two different recipes now. I add it in the last 10 minutes of the boil.
As far as taste......you get honey FLAVOR with grains (honey malts). You'll get a honey AFTERTASTE from honey. I'd think that 2 lbs of honey in a brew like that would lend a significant aftertaste. Ever had mead? Think of that flavor....sort of.
Did you know pure honey is a substance in which bacteria can not live? I forget the specifics, but it has something to do with the absolute lack of water and high sugar concentration.
(Drinking a honey brown as I type!)