Preheat oven to 400-degrees F. Lightly butter a baking dish or dishes. (see Notes) Set aside.
Line a large, shallow baking sheet with aluminum foil. Place the bacon side-by-side on the baking pan. Bake in oven until crispy, about 20 minutes for thick-cut bacon. Remove from oven and place on several layers of paper towels to drain. (Do not turn off oven.) Chop bacon into smallish pieces and set aside.
Pour 8 cups of water into a 3-quart saucepot. Salt water according to macaroni package directions. Bring water to a boil and carefully add the macaroni. Cook only until macaroni is at a slightly firm al dente. I used Barilla brand macaroni and set my timer for seven minutes at the time I added the macaroni to the water. Depending on the quality of the macaroni, cooking times may vary. The point is this: DO NOT over-cook. It is necessary for the macaroni to be a bit undercooked because it is going to absorb additional liquid from the sauce.
Drain cooked macaroni in a strainer/colander and rinse under cool water to stop the cooking process. Drain well, then set aside while the sauce is prepared.
In a 3-quart saucepot, add the half and half. (I used the same saucepot in which the macaroni was cooked.) Whisk in the 2 tablespoons flour until smooth. Add the white truffle butter and the smoked paprika to the half and half mixture. Heat over medium or medium-low heat until hot and beginning to thicken, whisking constantly.
When the sauce is hot, stir in the cheese. Continue to stir until cheese is melted and sauce is smooth. Turn off heat. Reserve about 1/4 cup of the chopped bacon (more or less, depending on personal preference); set aside. Stir the remaining bacon into the sauce. Taste and add salt, if needed.
Fold the macaroni and the sauce together. Pour macaroni into chosen buttered bakeware. To help catch potential spills, place baking dish or dishes on a baking pan. Top with reserved bacon. Bake for approximately 10-20 minutes, depending on the size of the container, until hot and bubbly.