honey + 2meat [morsels are worth .5, meat is worth 1] equiv = glazed ham. Delicious.
from memory you need
2 big meat
1 honey
some filler (I believe either straw or twigs can fill, something almost worthless anyway)
there is also the dragon fruit that can make dragon pie, that's 1 dragon fruit 2 sticks and one other thing for almost as much as honey ham.
also, get bees near your base people. build a bee box, then go catch some butterflies. plant the butterflies near the beebox to get flowers. flowers + bees = much honey. If you plant around 9 flowers, that's gonna be 1 big sticky bee box (in summer only)
The question I have is once you have a camp and a general idea of your area, you can farm for logs twigs, rabbits etc. They go away after you "farmed" them. Is it in my interest to keep exploring further out among the wilderness? I plan on doing that after I made a grass suit and some other things. Also I need a permanent resident. lol.
forget grass suit totally. log suit you want.
Also, I don't settle until I've found the pigs with beefalos nearby. First 4-6 days I roam the edges of the map and map out the territory, live off berries/carrots and normal non stone campfires. keep mapping until you find all the vital stuff and know where the different biomes and wormholes are.
rabbits etc do come back. you want to be near a spot with many rabbit holes. I make about 4 traps and always put em with no bait directly above the holes in the ground. try and run back that way from my adventures on the way home at night, grab 4 rabbits (reset the trap after getting the rabbit).