What about the Kitchen Aid warming drawer (link below)? It seems to deliver all the goods plus functions as a slow cooker for a lot less than the Wolf. I don't like the location of the Wolf warming drawer's controls. They seem vulnerable to spills. The Dacor we used in our last house lacked crisp/moist controls and gave the installer fits (which, I accept, probably says more about the installer). Our designer wants us to put the warming drawer in a stack below a pair of ovens (or an oven and a microwave). I prefer to have the warming drawer higher than that and also want it in a location where it can be accessed at the same time someone is tending to the oven(s). Whatever we choose, our new warming drawer will almost certainly go in the island (where there will be plenty of depth), either on the far side from the ovens and cooktop or opposite the space between them. Here is a link that might be useful: Kitchen Aid 30 Inch Custom Panel Warming Drawer

LWO--Kay's WD will not be 5" off the floor. She has a 10.5" drawer below the WD. So 10.5" plus 4-5" toe kick = 14.5-15.5" off the floor. The handle will be even higher than that. I DO use my warming drawer under my double oven stack. It's just above the floor in the no-no spot. I use it because I have a need. We do use it for waffles like you propose and for many other items. My waffles are crisp because mine has a "moist/dry" slider function. Once you get used to it, I think you'll be glad you have it. Yours won't even be at the floor like mine is so it'll be easier to get in and out of. Can you have your cab maker fabricate a panel front for it? I was surprised how little my cab maker charged me for my WD panel. I agree about watching eBay for a panel. You never now what will show up.

Most integrated appliances are meant to sit flush at 25". Some cabinet companies make their boxes 24" and the finish 25". Others have the finished depth at 24". Therein lies the problem. There are solutions. You can build a recess into the wall--sometimes just making a cutout in the back of the cabinet box can be enough. You can have the front panel cut down to 1/4", unless it's shaker or something where the depth is already cut out. Dacor is known for having a shallower warming drawer, which is easier to install flush. With any of them, check the installation specs and bring them to your cabinetmaker or rep and find out if you'll really have a problem. You can use almost any warming drawer as a slow cooker, or any oven that has a low enough temperature setting. If there's a four hour auto-shutoff, there should also be a Sabbath mode which disables it (though make sure that it doesn't limit the temperature). Some old slow cookers cooked at 145 degrees, but that's probably too low for food safety. 165 is a good number to shoot for, for vegetables. Choose a number similar to the internal temperature the meat should be, if you're slow cooking that. It's going to take some time to reach that. Remember to boil beans before slow-cooking them. Some slow cookers nowadays start at 200, for a low, which your oven should do. Most warming drawers top out between 210-240. Get a $5 oven thermometer and put it in the drawer to make sure of your temperature setting, and voila, you have a slow cooker. If you have a slow cooker you're replacing, use a thermometer to find out the temperatures of the settings you use. Or get or make a sous vide cooker. :)

The Dacor warming drawer that is approved for indoor/outdoor use and bathrooms is 21" deep. I have it in my island because it happens to be the only 21" deep warming drawer I could find. The shallower depth should help you install it inset, and the fact that it is approved for outdoor and bathroom locations should help with the moisture. I would look into that one. I don't find that my warming drawer gets so much steam that I would be worried about steam damaging the cabinet. I suppose what you use the drawer for and how often could have an impact, but I would think that the opening around the drawer front of an inset would give you a little added ventilation, unlike my drawer that covers the entire surface. I think there is a way, but your options may be limited and you may have to accept the risk of eventual damage if you keep a lot of high moisture dishes heated for a long time 9or engineer yourself some additional ventilation). I'm not super concerned about that, but I suppose it could be an issue.