I can't think of one exact reason why waffles made with yeast are better than those made with baking powder/baking soda. Besides the fact that they just are. These waffles cook up more crisp, they have a depth of flavor (look at me, getting fancy with my terms) that other waffles don't have, and they are delicious made with all-purpose flour or whole wheat. Or both. Get crazy.
They do take a bit of planning ahead - the batter needs to sit for at least 30 minutes. An hour or two is better. If you're crazy like zee fox (and want waffles that taste tangy like a very mild sourdough) you can leave it sitting out on your countertop overnight. You wild thing, you.
The batter rises and becomes a big, bubbly bowl of goodness.
I managed to take only one bad picture of the waffles. I was too busy eating them to devote any time to photographing them.
And one last thing - you don't have to use the recipe below to make yeast-raised waffles. Take your favorite recipe, leave out the leavening. Heat up whatever liquid the recipe calls for to lukewarm, add 2 teaspoons of yeast. Let it sit for 10 minutes, then proceed as the recipe below directs. Easy peasy.
2 cups milk
3 tablespoons sugar
2 teaspoons active dry yeast
3 tablespoons olive oil or vegetable oil
1 tablespoon vanilla extract
1/2 teaspoon salt
2 cups flour (I use 50/50 whole wheat and all-purpose)
Place the milk and sugar in a small saucepan, heat over a low flame until lukewarm. (You should be able to stick your finger in the milk without burning it - if the milk is too hot, it will kill the yeast.) Pour milk into a large mixing bowl, sprinkle the yeast on top. Let sit 10 minutes or until yeast is dissolved and foamy.
Add all remaining ingredients except the flour and mix well. Add flour, mix just until combined. Don't overmix the batter. Cover with plastic wrap and let sit in a warm place for at least 30 minutes. The batter will have doubled in size and be nice and bubbly when it's ready to cook.
Cook in a waffle iron according to the manufacturer's instructions.