I'd say WAFF as in "waffles." It's just the way I've always said it. I was actually suprised to find that there were people who pronounced it differently.
It's interesting about LAFF, though. I do say it to rhyme with "laugh," but the thing is, the way I pronounce "laugh" isn't how most Americans would. I say it the British way -- with a long Aah sound. (Sorry, too lazy to hunt down phonetics
