Like another person pointed out, morals are such a skewed and relative term. What one may consider to be honour/honourable, another may not.
Regarding Rudra. I think he's a mix of honourable and not honourable moments.
Honourable:
Willing to do anything for his country to make sure it remains safe
Has a high sense of justice (that involves no mercy)
Takes care of his father even tho his father basically tortured him when he was younger
Has held Paro captive in relatively good conditions. She has food, shelter, clothing, etc.
Has tried to maintain boundaries between them (hasn't really succeeded at that).
Not Honourable:
Killing off an entire barati (spelling?) on the basis of a rumour.
Tortures Paro (mentally, physically, etc)
Completely disrespectful to authorities in his family (even his chacha who has been so nice to him)
Planning to marry a girl just so he can extract some non-existent truth from her (big no-no)
Personally, I consider Rudra to be a pretty honourable person in his mind (end justifies the means), but his methods are definitely not honourable. So I guess for myself, he's not really being honourable right now (although I believe he has the potential to be so).
As for how important honour is, well that again differs for people. I don't consider honour to be paramount. But I do think people shouldn't completely loose sight of it either, i.e. they should be honourable to an extent.