It's not as unhealthy as it sounds... really. Because I use the FlavorWave Oven to cook the bacon and hot dogs, most of the fat drips down and is never consumed. I also add some grilled onions to the mix for some veggie goodness. Of course, I'm not saying that it would be healthy to eat this everyday, but every once in a while, it's not that bad.
The reason I wanted to try this is because of a conversation with Betsy, my boss' niece, who's been coming into the office on-and-off for the past month or so. Like Candice, she doesn't like to eat onions--on several occasions she had to pick out the onions from the food that either she or her dad got her for lunch. So I asked her about it, and it's mostly raw onions that she doesn't like--she has no problem with onion rings, and grilled onions will depend on how they're cooked. This then reminded me of the grilled-onions and bacon-wrapped hot dogs I've smelled the street vendors sell at downtown L.A. (when I went to E3) and Hollywood. To me, what really sold those hot dogs, was the aroma of the grilled onions.
The "grilled" onions were made using extra-virgin olive oil, with a small pinch of salt.
As the hot dogs and bacon begin to cook, fat drips down from the bacon. One piece of store-bought bacon wraps almost perfectly around a piece of hot dog, so the combination works out great. I used Ball Park franks (they "plump when you cook 'em"), so the bacon around the hot dogs will become a bit too tight for 'em, and they'll split open starting at the tip. If you cook them long enough, they'll split right down the middle, splitting the bacon along with them.
The finished product. I didn't buy hot dog buns, so I just ate them off the plate. It would be easier to eat with a bun, though.