Not only will you become more knowledgeable about the field, you will also learn more about techniques and problems. You will also see directly what it takes to write a good paper. The hardest aspect of the research to define is how much time and effort you should devote to Honors. You and your advisor should decide on the appropriate total effort on your part to be successful. Be advised that you way well be required to devote considerably more time and effort than a single course would require for some of the quarters during which you do research.
Research is usually a team effort.
Cooperation and successful sharing are important in most research activities. Few projects are ones with a single researcher, so that experimental materials and equipment need to be shared. Make sure you are a good member of the team. A good rule with equipment is to ask an experienced member of the team to demonstrate how to use it. Find out where the Instruction Manual is kept so that you can check on details you weren't told about or forgot.