In a medium bowl, combine the 2 tablespoons of butter and the cream cheese until combined. Fold the diced strawberries into the cream cheese mixture.
Cut bread into four thick slices (about 3-1/2"). Cut a pocket about 3/4 of the way through in each of the four slices. You are creating a pocket to stuff the cream cheese mixture into, so do not slice the bread 3/4 the way through, but create a pocket. Gently spoon 1/4 of the cream cheese mixture into each of the 4 slices of bread and close the pocket.
For the egg batter, add the eggs, cinnamon, vanilla, and milk to a medium shallow bowl and mix well. Set aside.
Prepare the breading (cereal) by pouring onto a plate or sheet pan. Dip the bread slices in the egg batter making sure to let each side soak for about 20 seconds. Next, dip them into the cereal mixture.
Put a large skillet on medium-high heat and add a couple of tablespoons of butter, or use an electric skillet sprayed with butter flavored Pam. Add the stuffed bread slices and brown on each side for 2-3 minutes, even propping on the two long sides to brown. The browned cereal makes a yummy almost carmel flavored crust.
Serve one each per person, dusted with powdered sugar, garnished with sliced strawberries, and topped with syrup.