Prepare pasta according to the package directions. Heat together in a large saucepan 2 tablespoons of butter and 2 tablespoons of flour over medium heat. Cook until the roux becomes fragrant.
Add 1/2 cup of half and half and stir until sauce thickens. Add 1/2 cup of half and half when the sauce thickens, and then add final 1 cup of half and half and stir until the sauce becomes thick. Add cheeses to sauce slowly stirring until the cheese is blended. Sprinkle in smoked paprika.
Mix pasta and sauce, and pour into a 13 x 9-inch baking dish that has been sprayed with non-stick spray. Top macaroni and cheese with crumbled bacon and panko breadcrumbs. Bake at 350 degrees for 20 minutes or until panko breadcrumbs begins to brown.