Rinse the rice under cold water until the water runs clear. In a saucepan, combine the rinsed rice and low-fat milk. Bring to a simmer over medium heat, then reduce the heat to low. Cook the rice, stirring occasionally, for about 20-25 minutes or until the rice is tender and the mixture has thickened. Stir in the honey and vanilla extract. Add raisins or dried fruit if desired. Continue to cook for another 5-10 minutes, stirring occasionally, until the pudding reaches your desired consistency. Remove the rice pudding from the heat and let it cool slightly. Serve the rice pudding warm or chilled, sprinkled with ground cinnamon if desired.