* Once viewed as a wholesome necessity to be consumed under duress, liver, bacon, and onions have nonetheless always had a loyal following. In our house, only my father and I had a taste for this combination, so I mastered the dish early on-and felt healthier for the effort. Today's fans, however, must deal with the guilt of cholesterol overload, and pace the indulgence. Here's a top-notch version that will make it a rare treat.

Lemon Bacon and Red Onions with Calf's Liver

PREP AND COOK TIME: 45 minutes

NOTES: Up to 4 hours ahead, bake the bacon; cool, wrap airtight (don't stack), and let stand at room temperature. Serve with watercress salad.

MAKES: 4 servings

8 slices (about 2/3 lb.) thick-cut bacon

1/4 cup firmly packed brown sugar

1 1/2 teaspoons grated lemon peel

1/2 to 3/4 pound calf's liver, cut into 1/2-inch-thick slices

2 red onions (1 lb. total), peeled and thinly sliced

3 tablespoons lemon juice

2 tablespoons butter or olive oil

1 cup minced parsley

About 1/4 cup all-purpose flour

Salt and pepper

1. In a 10- by 15-inch rimmed pan, lay bacon slices side by side.

2. Bake in a 350 deg oven for 15 minutes. …