Hi Ed, welcome to the forum and congrats on your new mower.
I can't really add anything to what the Gents before me have said. You will love the mulching capabilities of your Honda, I think the test you threw it was just a bit much to expect a clean yard. Regular mowing and even if you are a few days late should result in the look you are after.
You can always direct a bit more of the grass into the bag when your grass is higher or a bit damp. I usually cut at 90% Mulch, 10% bag with no clumping. Just this weekend I did a patch on my neighbors side of the fence that was very high, probably 6 inches. I moved the clip director to about 90% bag. It did an awesome job that way but it filled the bag very quickly. I ended up going over it with no bag and then back over it with 50/50 and it looks better than it has all year.
As far as the Honda against the Toro, its no comparison. The Honda feels like a tank compared to a scooter.