How about every fourth honor drop gives a chest.
I don't know about you, but I have a lot of key fragments and not too many chests mainly because I play ranked and have a selective champion pool. I think myself and a lot of other would greatly benefit if every fourth honor drop would give a chest, so we could actually put the key fragments to use.
Sidenote: How about some sort of progress level with the honor system. Having no idea where you stand in relation to the next level is kind of annoying. I read some riot post about how they didn't want to impliment it, but I wouldn't think it's all that unreasonable.
That is all.