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For the noodles: Bring 4 cups of water to a boil. Add the macaroni and stir continuously for 7 minutes so the pasta doesn't stick. Strain out the water and stir in the canola oil ONLY if you aren't going to use the noodles right away. Reserve the boiling water for a later use.
For the dogs: Steam the hot dog buns until they are soft to the touch. Boil the hot dogs for 5 minutes. Place the cooked hot dogs inside the buns.
Place a cooked bacon strip to one side of the hot dog. Put a layer of cooked macaroni on top of the hot dog. With a ladle, evenly distribute about 3 ounces of the cheesy bechamel on top of the macaroni. Sprinkle the Cheddar on top of the bechamel. Melt the cheese by toasting the assembled dog for 30 seconds, then serve.