I read the following on this page
bulk_insert_buffer_size MyISAM uses a special tree-like cache to make bulk inserts faster for INSERT ... SELECT, INSERT ... VALUES (...), (...), ..., and LOAD DATA INFILE. This variable limits the size of the cache tree in bytes per thread. Setting it to 0 disables this optimization. Note: This cache is used only when adding data to a non-empty table. The default value is 8MB. This variable was added in MySQL 4.0.3. This variable previously was named myisam_bulk_insert_tree_size.
I take this to mean that bulk_insert_buffer_size has no bearing on InnoDB tables, only on MyISAM tables. Is this correct?