Peel, core, and slice apples. Place in a medium-size skillet. Pour 1/2 cup water over apples. Simmer 4-5 minutes until apples are softened.
Drain apples in colander. Place in a bowl and gently mix in cinnamon and a little sugar if apples are tart. Set aside.
In the same skillet, combine brown sugar, corn syrup, and butter.
Cook and stir over medium heat until sugar melts and mixture just begins to come to a slow boil.
Pour into a 13 x 9 inch baking dish sprayed with Pam. Sprinkle with nuts.
Place 6 slices of bread on top of syrup and nuts.
Divide apples among bread slices and top with remaining 6 slices.
Whisk together eggs, milk, vanilla, nutmeg and salt. Pour over "apple sandwiches".
Cover and refrigerate over night.
In the morning take out of refrigerater 1/2 hour before baking.
Preheat oven to 325* and bake uncovered for 40 minutes.
Remove from oven, cover with a serving platter, and invert.
Cut each sandwich in half diagonally and serve with Vanilla Sauce.
NOTE: Peaches can be used in place of Apples.