Preheat oven to 325 degrees F (165 degrees C). Lightly grease a 9x13 inch pan.
In a large bowl, stir together eggs, butter, vanilla and milk. Gradually add 1/4 cup sugar and mix thoroughly until sugar is dissolved.
Place bread cubes in bottom of prepared pan.
Pour liquid over bread, fully saturating all bread.
Sprinkle pecans on top.
Bake in preheated oven for 60 minutes, until golden. Meanwhile, combine 1/2 cup white sugar, 1/2 cup butter, cream and whiskey in a small saucepan. Warm over low heat, stirring constantly, until sauce is gently boiling.