PREHEAT oven to 350º F. Grease 11 x 7-inch baking dish.
COMBINE evaporated milk and water in top of a double-boiler and scald over rapidly boiling water. Remove from heat. Stir in bread crumbs, brown sugar and butter. Cool to room temperature.
BEAT eggs in a large bowl until well mixed. Add raisins, cinnamon and salt; mix well. Stir in bread crumb-milk mixture; beat slightly. Pour into prepared baking dish. Place baking dish in large pan; fill pan with warm water to about 1-inch depth.
BAKE 40 to 45 minutes or until knife inserted in center comes out clean. Serve immediately with whipped cream.