Does anyone do honest reviews?

If you want honest reviews, then use forums like these to solicit them.

As you said, no trade mag is going to pan a product that spends big $$$ to advertise itself in its pages.
 
it's difficult to do an honest review.
With magazines and many blogs, the review gets the product for free, insulting the company is not a good idea. Many times the company pays for advertising in the magazine and a bad review may mean pulling ads and lost income for the mag.

A review is a promotional tool.

Everyone has different needs and expectations for a product especially with audio gear so that makes it even tougher. Sound on Sound do good reviews but they don't seem like real engineers writing them.

When I review something I usually send it to the company to proof first and make sure I'm not just mistaken about how to use a feature.

I guess tape op is the most honest.

I think I'm pretty honest with the reviews on my site fwiw
 
Sound on Sound seems pretty decent on reviews.

One thing I will mention is that the general quality of mid level audio gear is actually very good these days, so normally con's of a piece of gear are more because of missing features or nothing that makes it stand above it's competition than any real flaw with the gear itself.