I've got a similar recipe on the go at the moment, and have done a few more in the past. I'm still gradually improving my recipe, but here's what I have so far:
20oz Greek Honey
4oz Light Crystal Malt
1/2oz Hops (20min boil)
1/2oz Hops (dry hop, 36hrs)
Water to 1 gal
Yeast: S-04
I've not used any DME here, as I find too much malt overpowers the honey, and it ends up tasting like slightly watery beer. You may find otherwise though.
For the honey, I'm recommend something strong so the flavours don't get drowned out by the hops. Also, if you know of any honeys that don't finish dry (from previous experience, the particular honey I'm using leaves about 5 points per pound), it might help to balance out the bitterness from the hops.
For yeast, I've used several of Fermentis's yeasts (S-04, US-05 and S-33) for low OG meads/braggots, and they've all turned out drinkable within a month.
For hops, as loveofrose suggested, at 60mins you'll get alot of bitterness but not much aroma (most of the oils will have boiled off), so you might want to consider reducing the boil time (or adding some more hops to it for the last 10mins). I find 40-50 IBUs works well, but it depends on just how bitter you want it.
For carbonation time, you could always do a single plastic bottle, and then you can feel how much pressure it has. When the plastic bottle's solid, the rest should be ready too.