Lightly grease a 9x9 cake pan, or a 9" round pan, or a loaf pan. Cube or tear up waffles, toss them into the pan and try to somewhat level them out.
In a bowl, whisk the lukewarm milk, butter, eggs, sugar, nutmeg, cinnamon and vanilla together until eggs are fully incorporated. Pour over the waffles - give the whole thing a good stir.
COMMENT: The mixture should be almost submerged in liquid.
Bake at 350* for about 45 minutes to an hour, until the center is set and the top is starting to brown. Serve either hot or cold
Cognac or Rum topping: (Omit alcohol if serving to children)
Use 1/2 cup of syrup (more or less, it's up to you) & 1/4 cup of cognac or rum (more or less, it's up to you). Mix together.
Using a knife, deeply pierce the hot bread pudding (right out of the oven) all over.
Pour topping over the complete pudding while it's still hot (very important).
Eat hot with vanilla ice cream, cream or whipped cream.
Eat cold with whipped cream.