Summer Basil Vinaigrette

Source: Asbury Park Press

2 tablespoons Dijon mustard
6 ounces sherry vinegar (red wine vinegar is suitable substitute)
1 small shallot
2 cloves garlic
1 tablespoon honey
1/2 teaspoon salt
Black pepper (fresh ground)
1 bunch basil
18 ounces extra virgin olive oil (very well chilled)