TO PREPARE FRENCH TOAST: In medium-sized mixing bowl, whisk together eggs, milk, sugar, vanilla, cinnamon and baking powder until blended. Blace bread in a large shallow baking dish and pour egg mixture over the top; turn to coat evenly. Press a piece of wax paper directly on the bread to cover it and refrigerate overnight. TO MAKE CINNAMON SYRUP: In a small saucepan, stir together sugar, corn syrup, cinnamon and quarter cup water. Bring the mixture to a boil over medium-high heat, stiring contanstantly. Boil for 2 minutes. Remove from the heat and stir in cream. Let cool. (The syrup can be stored, covered, in the refrigerator for up to 1 week.) TO COOK FRENCH TOAST: In a skillet, heat butter over medium-high heat. Add bread (do not crown the pan) and cook until golden on both sides, 2 to 3 minutes per side. Serve with cinnamon syrup.