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In a medium mixing bowl, combine raisins and whiskey; let soak for 1 hour. Coat a 2-quart rectangular baking dish with cooking spray; set aside.
In a large bowl, whisk together eggs, cream, 1 cup sugar, cinnamon, nutmeg and vanilla. Generously spread one side of each slice of bread with 3/4 cup butter. Cut the slices in half diagonally and arrange the bread in the bottom of the prepared baking dish, overlapping the slices. Drain the raisins, reserving the whiskey. Sprinkle raisins over the bread, tucking some between the bread slices. Pour the custard over the bread; cover and let it soak in the refrigerator for 30 minutes.
Preheat the oven to 375°F. Place the baking dish in a large roasting pan. Add enough hot water to come halfway up the sides of the dish. Bake for 45 minutes or until the pudding is set and the top is golden (there will be a layer of melted butter over the pudding). Carefully remove the baking dish from the water bath and let cool slightly on a wire rack (the butter will soak back into the bread as it cools).
Meanwhile, for sauce, melt 1/4 cup butter in a 2-quart saucepan over medium heat. Whisk in 1/2 cup sugar, salt, cream and 3 tablespoons of the reserved whiskey. Bring to a boil; reduce heat and simmer, uncovered, for 10 to 15 minutes or until the sauce thickens slightly, stirring frequently. Serve pudding warm with the sauce spooned over the top.