The most recent episode of Veronica Mars has a scene where someone dies, and their last words are "I Smell Bread".

At the time, I didn't get it, though I knew it must be an obscure reference to something.

So, the something turns out to be a Mash episode.  It was an episode in the 9th season of that show, number 218, entitled "The Life You Save".  From here:

http://www.bilkent.edu.tr/~jast/Number8/Davidoff.html

"But at times material that is missing can lead to possible misinterpretations, such as in the discussion of the episode The Life You Save from the ninth year of the program. A major plot point of the episode concerns Major Winchesters new obsession with death, after nearly being shot by a sniper. He makes an effort to get to the front lines, in order to be with a dying soldier. Discussing Winchesters time with this soldier, Wittebols finds that As he asks the man to describe what he is going through, the man gasps and dies. While this is true, it leaves out the last words of the dying soldier, who says after Winchester asks him to describe what he is experiencing, that he smells bread."

Frak.  I liked M.A.S.H., and I was never going to get that reference!