Preheat oven to 300*F.
Remove crust from bottom of one round 16 ounce sourdough or whole grain bread loaf. Slice the bread horizontally in 3 equal round layers. Save the top layer for another use.
Set aside remaining 2 bread portions. In a 2 quart square baking dish beat together the eggs, milk, sugar and vanila; set aside.
In a large nonstick skillet or on a griddle, melt 1 tbls. butter over medium high heat. Dip the bottom slice from the loaf into the egg mixture; let bread soak about 1 minute each side. add soaked bread round to skillet. Decrease heat to medium. Cook about 5 minutes or until golden brown, then carefully turn bread slice once. Place on a baking sheet and keep warm in oven. Repeat with remaining 1 tbls. butter, second bread round, and egg mixture.
Meanwhile, slice the strawberries and place in a large bowl.
In a small saucepan melt the strawberry preserves; pour over berries and toss to coat. Set mixture aside.
In a chilled mixing bowl combine whipping cream, whipped cream cheese, sugar, and vanilla. Beat until soft peaks form.
Place bottom of bread loaf on a serving platter. Top with 1-2 cups of the strawberry mixture. Top with second bread round. Top with some of the whipped cream mixture and remaining strawberry mixture. Cut carefully into wedges.
Pass remaining whipped cream mixture. Enjoy!