To prepare the meatballs, in a small fry pan over medium heat, cook the pancetta until crispy. Add the garlic and remove from the heat. Let stand until cool to the touch.

Meanwhile, in a large bowl, combine the bread cubes, cream and wine and toss to coat the bread with the liquid. Cover and refrigerate for up to 3 hours.

In another large bowl, combine the ground beef and pork. Remove the bread from the liquid, squeezing out the extra liquid, and add the bread to the meat mixture. Add the pancetta-garlic mixture, the onion, carrot, parsley, thyme, oregano, basil, eggs and cheese, and season with salt and pepper. Combine the ingredients until the desired consistency is reached. 

Form the meat mixture into 1 1/2-ounce balls (about 3 tablespoons each). Refrigerate until ready to cook. 

In a large saucepan, warm olive oil. Working in batches, add the meatballs and sear until browned on all sides. To finish, either place the meatballs in the simmering tomato sauce (recipe below) and cook for 1 hour, or bake the meatballs in a 400°F oven for 10 minutes and then serve them with the sauce.  

In a large pot over low heat, melt the butter with the olive oil. Add the onion, carrots and garlic and cook, stirring occasionally, until the vegetables are soft. Increase the heat to high and cook until the vegetables are browned.

Add the wine and stir to scrape up the browned bits, then add the tomatoes, basil, oregano and thyme. Cook on the lowest heat possible for 4 hours. Season with salt and pepper.