Pre-heat oven to 350 or 325 if using glass
Cut or break bread into 1-2" small pieces and let dry on a cookie sheet for 2-3 hours or bake for 15 minutes at 300 degrees. Butter a 13x9-cake pan and place dried bread into it. In a large bowl, combine sugar, cream, vanilla and eggs. Whip until well blended. Pour the mixture into a heavy 3 quart sauce pan or double boiler. On low heat, stir the egg mixture constantly and add the white chocolate pieces. You want to melt the pieces and blend them in. As soon as the chips are melted, pour the mixture slowly over the bread. Gently toss the bread to cover all sides. Let the bread/egg mixture rest for 1 hour, then place in the over for 45 minutes. Remove when finished and let cool for 30 minutes before serving.
In a heavy saucepan, combine all ingredients and cook over low heat, stirring constantly until thickened, about 3 minutes.