I've had problematic skin for as long as I can remember, always had some acne in a few spots, very rarely clear skin. I figured out that I needed to moisturize a year or so back, which helped out a lot.
Anyhow, I tried the regime and the first few weeks it went great - my skin has really cleared up, acne has really reduced and I only get the occasional pimples in some problem areas (and usually that's after I miss washing my face).
However, after about a month or so of use I've noticed my skin has gotten really oily during the day, and maybe a bit red. I've throttled-back and ceased the "treatment" but continued with the cleanser and the moisturizer which seems to help. I picked back up on the benzo in a very small amount, and it seems like it immediately went back to very oily skin.
How can I manage this? I want to keep up something that will take care of bacteria to clear out what acne there is, but the oily skin looks terrible and is uncomfortable.
I've used Murad oil control moisturizer in the past, but it's pretty expensive - although it seemed to work somewhat well.
As far as I know benozyl peroxide does not really affect your oil glands. Sometimes the sheen from the gel can make the skin look shiny though, and coupled with the moisturizer may leave more shine than you want. Try these tips. http://www.acne.org/faq.html#oily
Also, if you are in an area that the humidity starts ramping up as warmer weather arrives, this can result in more shine during the day.
I always feel like my skin is oilier (or at least appears oilier) when it is irritated. I know you already said you tried cutting back but my suggestion was going to be try using the BP just once a day in the morning. If this is still too irritating maybe try once every other day. Sometimes it is just about finding the right frequency. I always thought it was kind of silly the way we build our skin care routine based on how many times a day when maybe it should be how many times in a 48 hour period 72 hour period etc.