A gallon of honey is ~ 12 lbs. I use 1 gal of honey plus 5 gals cider for my cyser, so my gravity is usually in the low 100's to 110's with the extra sugar from the cider. If you did a 5 gal total volume batch with just water diluting the honey, you'd probably have OG's in the 1.090's, which would put you solidly in the lower ranges of a standard mead. Add some fruit puree or juice in secondary, and you've got a great melomel....
Packaged: Red X Weimea SMaSH
Recent Meads: Mead Day '11 Ginger Metheglin, Mead Day '12 Traditional (orange blossom) Mead, Simple Cyser '12
Secondary: Why do I keep this line here...?
Bulk Aging: Cocobochet, Wild Cider, Simple Cyser
Planned: Hop Metheglin #3 (NZ hops), Trad. Gesho T'ej