In a large saucepan, combine 4 ½ cups of milk, heavy cream, sugar, and salt. Steep over medium heat, and stir until the sugar dissolves.
Add the rice, and simmer while stirring every 5 to 7 minutes. Cook for 55 to 65 minutes until the rice thickens, then add the vanilla.
Stir in the remaining ½ cup of milk just before serving.
Garnish with ground cinnamon and raisins, if using. Serve warm or cold. Store leftovers in the refrigerator for up to 3 days.
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