I can't tell you the mulching difference between the two. Toro used to say that the kickers under the wpm decks reduced the bagging efficiency by 20%. The difference when adding the recycling kits (kickers and blade, accelerator ect.) was fairly substantial on the bagger units that had the power. This is old school now, but I believe the kickers do a great deal in modifying the airflow and hiding the clippings.

"I'm trying to decide between the Toro 20092 super recycler and the 20192 super bagger. I would be mostly mulching (bagging in fall when the leaves get heavy)"

I think you have all but answered your own question. The Super Bagger by design eliminates mulching as an option. The Super Recycler both bags and recycles exceptionally well.

" but I like the Honda engine on the 20192. My question - does the 20192 mulch as well as the 20092?"

Is there a difference in performance between the Honda and Briggs that I'm not aware of? If not, you should consider basing the choice on which mower will meet your lawn mowing needs the best.

" I looked at them in a store tonight, but did not look under the deck of the 20192. Looking it up online, it does not appear to have the "kickers" that the 20092 has. Anyone have any experience with mulching differences between these models?"

The kickers are used to suspend the grass longer and allow it to be chopped finer. It wou;d make sense that a machine not designed to mulch would not have the kickers.

Wow. This is just wrong. The so-called 'Super Bagger' is the exact, self-same mower as the LB 10795 and is a fine mulching mower. Because of the 'agendas' naturally found with a company trying to market two brand names, they are not 'pushing' the mulching on this model, but if you look closer at the list of features and click on 'Cast aluminum cutting deck' you will find reference to how easy it is to convert to mulching. I guess they're calling it the 'Super Bagger' because it bags so much better than the Super Recycler. It's the LB 'Insight' deck and discharge system, the same as on my LB 22271 commercial and LB 10684 (steel deck version). Bag manipulation is very easy and direct, and changing modes is the same - fast and easy. The mower will also come with a discharge chute to mount of the side port, in addition to the mulch plug for the rear port. I haven't tried discharging with either of mine but have no reason to doubt that it would work fine. I mulch 90% of the time with my two and don't see any particular problems with that feature. The 'Super Bagger' even comes with the Toro/Atomic mulching blade which is also fine for bagging - you can see the mulching cuts on the back of the blade in the under-deck picture.