Stir yeast into water until dissolved. Mix milk, sugar, salt, eggs, butter, and half of flour into yeast; mix with a spoon.
Add enough remaining flour so that dough can be handled easily. Turn onto lightly floured board and knead until smooth and elastic, about 5 minutes.
Round up in a greased bowl with the greased side up. Cover with damp cloth or saran wrap. Let rise in a warm place until doubled, about 1½ hours.
Punch dough down, then let rise again until doubled, about 30 minutes.
Divide dough into two parts, roll out on lightly floured surface. Top with flour to handle dough easily.
Combine soft butter, cinnamon and sugar; you may also add chopped pecans or raisins to the cinnamon and sugar mixture. Top dough with cinnamon mixture. Roll up jelly-roll fashion. Cut into 4-inch rolls.
Place in a greased pan, let rolls double in size. Bake for 10 to 15 minutes at 350°.
Make the glaze by sifting a little confectioners' sugar into a bowl, moisten with cream or milk to a spreading consistency. Add almond or vanilla flavoring and spread over slightly warm rolls.