Coat on 11 X 7 inch baking pan with cooking spray. Spread bread cubes in pan. Whisk together eggs, milk, granulated sugar and vanilla. Stir in Walnuts and raisins. Pour mixture over bread cubes;press into bread with back of spoon. Combine cinnamon and brown sugar and sprinkle on top of bread mixture, and dot with butter.
Bake 50 to 55 minutes until knife inserted in center comes out clean. Serve warm with whipped cream or vanilla ice cream.