In large bowl of food processor, add walnuts, bacon, sugar, and cinnamon. Pulse until walnuts and bacon are chopped; set aside. (Be sure to fry the bacon to a crispy stage. Then it will chop up finely and evenly.)
Cut phyllo into 13" by 9" rectangles. In greased 13" by 9" baking dish, place 1 phyllo sheet; brush with melted butter. Repeat with phyllo and butter to make 5 more layers, overlapping any small strips of phyllo to make rectangles, if necessary.
Over phyllo in baking dish, sprinkle 1 cup walnut mixture.
Repeat steps 2 and 3 to make 3 more layers (4 layers total).
Place remaining phyllo on top of last walnut layer; brush with butter.
With sharp knife, cut just halfway through layers in triangle or diamond pattern.
Bake in 300 degree oven for 1 hour and 25 minutes or until top is golden brown.
In small saucepan over medium-low heat, heat honey until hot but not boiling. Evenly spoon hot honey over hot baklava.
Cool Baklava in dish on wire rack at least 1 hour; cover with foil and let stand at room temperature until serving.
To serve, finish cutting, with a sharp knife, through layers to make triangles or diamonds.
