Cook bacon in heavy large skillet over medium-high heat until crisp. Using slotted spoon, transfer to paper towels. Pour all but 1 tablespoon drippings from skillet into small bowl; reserve. Add corn to skillet; brown well, about 5 minutes. Add 1/4 cup water; boil until all liquid evaporates, stirring often. Transfer to large bowl; cool.

Mix bacon, pimientos and next 8 ingredients into corn mixture. Mix in whipping cream and egg yolks, then flour and baking powder. Beat egg whites in medium bowl until stiff but not dry. Stir 1/4 of egg whites into batter to lighten. Fold in remaining egg whites.

Heat large skillet over medium heat. Brush with some of reserved bacon drippings. Working in batches, spoon batter into skillet by 1/4 cupfuls; spread with back of spoon to form 3-inch pancakes. Cook until golden, about 2 minutes per side, brushing skillet with drippings as needed. (Can be made 1 day ahead. Cool; cover and chill. Rewarm on baking sheet in 350F oven until heated through, about 10 minutes.)

Makes about 16 Pancakes.

Per serving: 879 Calories (kcal); 71g Total Fat; (70% calories from fat); 31g Protein; 35g Carbohydrate; 746mg Cholesterol; 2891mg Sodium Food Exchanges: 1 1/2 Grain(Starch); 3 1/2 Lean Meat; 1 Vegetable; 0 Fruit; 12 Fat; 1/2 Other Carbohydrates