In a large mixing bowl, dissolve yeast in warm water. Let stand 3 minutes. Add milk, sugar or honey, salt, butter and half of the flour. Beat until smooth. Mix in enough remaining flour to make the dough easy to handle.
Turn dough onto a floured surface. Knead 5 to 10 minutes until smooth and elastic.
Place in a greased bowl, then turn dough greased-side up. Cover with a clean towel. Let rise in a warm place until doubled in bulk, about 1 1/2 hours. Punch down.
Shape into rolls or use for coffee cakes. Place in greased pans.
Let rise until doubled in bulk, about 30 minutes. Bake at 375° F. for 25 to 35 minutes. Allow more time for larger shapes, less for smaller ones.