Preheat oven to 375 deg F
Cook macaroni in large pot of boiling salted water until al dente. Drain; toss with drizzle of oil.
In medium saucepan, simmer cream, wine, garlic and bay leaf until mixture is reduced to 1 cup, about 15 minutes. Discard garlic and bay leaf, set aside.
In large saucepan over medium high heat, melt 1/4 cup butter. Add onion and cook for about 10 minutes or until it begins to turn golden. Stir in flour until blended; cook 1 minute stirring. Gradually whisk in cream mixture, milk, cheeses, sherry, mustard, salt and peppers until smooth; bring to boil, whisking frequently until thickened, about 3 minutes.
Stir in cooked macaroni. Pour into buttered 8" baking dish or single serving dishes. Mix breadcrumbs with melted butter and sprinkle over top.
Bake 20-25 minutes or until bubbly and golden.
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