Cut bread into 1" cubes.
Spray cooking spray in 9 x 13 dish.
Place bread cubes into dish.
Beat cream cheese with a mixer until smooth.
Add eggs one at a time, and mix well after each addition.
Add milk, half and half, 1/2 c syrup and vanilla. Mix well.
Pour mixture over bread. Sprinkle the top with cinnamon and nutmeg if desired.
Cover dish and refrigerate overnight.
When ready to cook, remove from refrigerator and let stand on counter for 30 minutes.
Uncover, and place in a NON-PREHEATED oven and set to 375F for about 50 minutes (until the bread starts to become golden).
Allow to cool for 5-10 minutes.
Sprinkle with powdered sugar.
Serve with syrup or mixed berries or fruit of your choice.