Preheat oven to 350 degrees. Cook the bacon, crumble it then set it aside. Cook pasta according to package directions. Meanwhile in a large skillet , sauté the mushrooms and onion in 2 tablespoons of butter and 1 tablespoon of the vegetable oil until they are tender. Add the garlic and cook an additional 1 minute then set aside.
For the sauce, melt the 5 tablespoons of butter. Stir in the cream cheese until smooth. Gradually add the milk and the half and half cream. Heat through then stir in the cheeses and the salt and pepper until well blended. Stir in the cook crumbled bacon.
Drain pasta; toss with the mushroom mixture and the sauce mixture. Transfer to a 9x13 baking dish.
Combine the bread crumbs, parsley and 2 tablespoons of melted butter; sprinkle over mixture. Bake uncovered for 30 minutes.