Bring the water to a boil in a medium saucepan over medium high heat.
Slowly add the polenta, and whisk together with a metal whisk, and add 1 tsp salt. Reduce the heat to medium and cook, stirring occasionally, until the polenta is tender and full cooked, about 20 minutes.
Add the milk, the butter, and the Parmigiano-Reggiano cheese to the polenta and stir together over medium-low heat until just warmed through and soft enough to drop easily from a spoon. Cover to keep warm.
To serve - spread the polenta onto a large serving board. Arrange the various toppings around the board and let people create their own polenta bowls!