Grease 12 muffin cups with butter.
Combine water and salt in a small saucepan over high heat, and bring to a boil.
Slowly add polenta, whisking constantly.
Reduce heat to low, stirring frequently.
Cook until polenta thickens, about 35 minutes. (Should be stiff and harder to stir.)
Divide polenta among muffin cups.
Smooth polenta with the back of a spoon, and then make an indentation in the center of each cup.
Refrigerate uncovered for 1 hour.
Remove polenta cups from refrigerator 30 minutes before baking.
Cook bacon using your preferred method until crispy; drain on paper towel-lined plate.
Cool, and dice bacon.
Preheat oven to 350 degrees.
Put 2 teaspoons of blue cheese in each polenta cup; gently press into centers.
Bake for 10 minutes.
Remove from oven, and allow to cool for 5 minutes.
Carefully remove cups from pan, and top with bacon.
Drizzle with honey, if desired.