Yes, honey is great for dry skin and will probably do a lot of good for your excema. You might want to try it! I initially started on it because I had a patch on my face that was peeling and the honey completely cleared it up. I definitely wouldn't do the baking soda tho.
For those that are having baking soda issues. I was just reading an article today at work about how over exfoliating (more than 2x week) can actually damage the skin and cause premature aging. So my advice - don't exfoliate more than every three days. You are essentially slubbing off the top layer of skin - you need to give it time to heal and replenish

If the baking soda causes redness, it's too much for your skin type. I would skip it and just lightly cleanse for a few days. Honey is a natural exfoliant in and of itself, so you really don't *need* the baking soda if you aren't having a lot of acne. If you are having alot of acne, baking soda is a great "prepper" for extraction and will bring the pimples to a head - this is what they teach you in cosmo school. But again, if it burns or causes redness it's too harsh for your skin type. I know alot of people love it, but I just don't want a bunch of mamas to be walking around causing undo harm to their gorgeous faces.
Anyway, if you are finding the baking soda too harsh - (I was and eventually dropped it). You might want to try brown sugar and honey. I know there are a few mamas in this thread who tried it and said it was niiiiiiiiice. I think the sugar is a little bit more moisturizing.