I agree with the sentiment that, in the grand scheme of things, the slow sales of Honda's niche products don't really matter. It's the sales of their bread-and-butter lineup that are important... and I believe the Civic is still selling well despite being a 5 year old design, the Fit is still at or near the top of its class (the Fiesta/Mazda 2 are really strong competitors and beat it in some respects, but the Fit wins in some others, so I call it a draw), and the Accord is doing all right (I think?).
What's more interesting, imo, is where the next generation of these cars go. That Honda pulled the next-gen Civic because it was too big/too floaty/too inefficient concerns me, but it also leads me to believe they're aware of their problems and acting upon them...
So, I'll wait and see if the next-gen Civic and Fit are any good. If they're not, then Honda might well have lost its way. But I'm not too worried... yet.
(And FYI, mmret, have you actually driven a Ridgeline? IMO it's a wonderful light truck - the design is genius, and pure Honda. The only problem with it, imo, is the price. If they can keep it as good as it is but make it cheaper, I think you'd see a lot more of them).