Thanks for bumping this. It reminded me that I needed to report back.
The small bit I made amounted to about 4 shots. Save for a sip here and there to try it 'as is', all of this batch has been consumed as an Old Fashioned. After adding the strained bacon grease, it sat in the fridge for a few days. I also put it in the freezer to help separate the fat from the bourbon before final processing. After an hour or so, I picked out the course bits of fat that formed at the top, then I ran it through a coffee filter and into a clean jar. It wasn't nearly as clear and amber as it was to begin with. It retained a bit of cloudiness, though nothing terrible.
As for the taste, my initial impression is that you can't really taste bacon. That said, it does have a different flavor and it also seemed to be smoother.
I have read about pairing bourbon with fatty cheese to help reduce the ethanol burn present in it, though I've never tried it. Theory is that once you reduce the ethanol burn, you get to experience the rest of the flavors. I'm not sure I buy into this since the fatty oils that help reduce the burn would likely also reduce your ability to taste different flavors. I dunno.
At the end of the day, I wouldn't turn down a bacon infused bourbon, BUT I won't be making it again since I don't feel it's worth the extra effort.