French Toast Waffles with berry sauce

I ripped this recipe out of a magazine because it sounded too good to be true. French toast and waffles in one?! Two of my favorite things. Is it possible? I love this concept. I'm dying to try it with ham and swiss as the filling like a Monte Cristo sandwich or with a flavored cream cheese filling like stuffed French toast. Let me know if you try any variations. Here's the original recipe:
(sidenote: my picture does this recipe a disservice, so use your imagination on this one.)

French Toast Waffles with Berry Sauce
8 slices sandwich bread with crust removed
4 large eggs
3/4 cup milk
1 Tablespoon sugar
1/2 tsp. vanilla
pinch of salt
4 Tablespoons peanut butter

Leave bread out overnight to get stale. Whisk together eggs, milk, sugar, vanilla, and salt. Spread peanut butter on 4 slices of bread and top with the other 4 slices. Flatten "sandwiches" slightly. Soak sandwiches for a couple minutes on each side in egg mixture. Heat and grease waffle iron. Put sandwiches in one or two at a time depending on size of your waffle iron, but DO NOT overfill. Press down on waffle iron until closed. Cook each sandwich until golden brown, about 3-5 minutes. Serve with berry sauce.

Berry Sauce
one 16 oz. bag mixed berries
1/4 cup sugar
2 Tablespoons raspberry preserves
1 Tablespoon lemon juice

Cook berries and sugar until boiling and berries get soft (about 10 minutes). Transfer to blender. Add lemon juice and preserves. Blend until smooth. Serve warm.

*I'm guessing this concept works best with a traditional waffle iron rather than a Belgian waffle iron. If you try it with a Belgian waffle iron, let me know how it turns out.