Preheat oven to 325°F. In a small bowl, mix together the crushed wafer crumbs and sugar; stir in melted butter. Combine together well until mixture is moldable. Press onto bottom of a greased 9 inch springform pan. Arrange whole wafers, rounded sides out, along sides of pan, pressing lightly into crumbs.

In a large bowl mix cream cheese and sugar till smooth (You could beat it using a stand mixer, however a hand mixer may not be able to handle all that cream cheese, so you could just mix well using a wisk, it'll give your arm a workout, that's what I did. :)

Next beat in sour cream and vanilla. Add eggs, mix just until fully combined. Don't over mix. (Over mixing will cause cracking) Pour over crust. Place pan on a baking sheet. It shouldn't leak but just in case it happens you won't have to clean your oven.

Bake for 55-60 minutes, or until center is almost set. Cool on a wire rack for 10 minutes. Loosen sides from pan with a knife. Let cheesecake cool completely for an additional 3-4 hours. Then refrigerate overnight, covering after completely cooled.

In a microwave melt caramels with milk; in about 5 increments of 30 seconds continually stirring until smooth. Remove rim from pan. Allow caramel to cool for about 10 minutes and then either using a piping bag or spoon drizzle caramel over cheesecake, sprinkle with pecans. Put cheesecake back in fridge to allow the caramel to slightly harden then take it out 15 minutes before serving.