Make the granola, blueberry compote, and whipped cream (see below).

Whisk together the eggs, cream, vanilla, and nutmeg in a broad bowl or shallow dish large enough for dipping the bread.

Melt about 1 tablespoon of butter in a large nonstick skillet (or griddle) over medium heat. Dip 2 pieces of bread into the egg mixture to every coat both sides of the bread. Transfer the dipped bread to the skillet and sprinkle about 1 tablespoon of the granola evenly over each piece. Fry until the bottom is golden brown, about 3 minutes. Flip the pieces over and cut both in half with the spatula while still in the pan. Continue cooking until the granola side is golden, 2 to 3 minutes longer. Repeat with the remaining bread slices, adding more butter to the skillet as needed. Keep the French toast warm in a low oven until all the slices are cooked.

Arrange 4 halves on each warmed plate, granola side up. Scatter blueberries over and around, add a dollop of whipped cream in the center, and drizzle blueberry compote over. Top with a dusting of powdered sugar and sprinkle of granola.

Preheat the oven to 400 degrees. Combine the butter, vanilla, sugar, cinnamon, and salt in a small saucepan and warm over medium heat until the butter is melted and sugar dissolved, stirring occasionally, 2 to 3 minutes. Spread the oats on a rimmed baking sheet and drizzle with the melted butter mixture, stirring gently to evenly coat the oats. Bake for 10 minutes, then remove from the oven and sprinkle the almonds and pecans over. Return to the oven and bake for 5 minutes longer. Remove from the oven and drizzle with honey. Gentle stir to evenly coat the granola and let cool, stirring occasionally to avoid stocking to the pan.

Combine the berries and water in a blender or mini processor and blend until nearly smooth. Transfer to a medium saucepan and bring just to a boil over medium heat. Add the sugar and simmer until the mixture is slightly thickened, about 10 minutes, stirring occasionally. Let cool, then refrigerate until ready to serve.