'A Matter of Honor' is a reasonably engaging episode that gives the series something of a breath of fresh air. It was made at a time, of course, long before Klingon episodes had become stale and tedious, so much of what we saw here was reasonably fresh and interesting. It also goes a fair way to making Riker a more likable character: the writers seem to making a concerted effort to make him more accessible than the stolid, charmless Kirk clone we were treated to in season one.
Where this one slips is the forced climax, in which we're expected to believe that the Klingons are going to engage the Enterprise in battle. Just WHY would the Klingon captain be so paranoid and distrustful of their Federation allies, to the extent he'd be willing to destroy the Enterprise and risk war? I just didn't buy it.
The subplot with the Benzite exchange officer, Ensign Mendon, isn't terribly interesting but is passable. It would have been far more interesting if a Klingon exchange officer had taken Riker's place.