Begin by cooking your bacon on a low, to medium heat, cooking it until nice and crisp (not burnt), on both sides. Once fully crisp, remove and place on some paper towel. Save the bacon fat in the pan. Boil a large pot of salted water, and place the whole brussel sprouts in the boiling water, cooking only for about 5-6 minutes. Remove them with the slotted spoon and place them in the ice water to stop the cooking process.
Make the balsamic reduction by adding one cup of great balsamic vinegar to a small pot, and bring it to a boil, cooking for a few minutes. Add in the brown sugar, stir, and reduce the heat, continuing to cook until you have a nice reduction.
Chop the bacon into bits.
Remove the brussel sprouts from the ice bath, and slice them in half, lengthwise. Bring the pan of bacon fat up to a medium heat, add in the olive oil until lightly smokey. Place the brussel sprouts in the pan, flat side down, and cook for about 4-6 minutes until they have a nice sear on them. Add in the balsamic reduction, and shake your pan about, coating all of the brussel sprouts.
Plate, and top with the bacon bits and parmesan cheese. As I said, my wife is still talking about them, and these are great enough to put on a table any day of the week, but will certainly be on the Thanksgiving table this year. Enjoy.