Preheat the oven to 425°. In a bowl, soak the bread in the milk to soften.
Place a rack on a large baking sheet. Using a food processor, finely chop the cold cuts.
Drizzle the EVOO into a large bowl. Add the beef and season with salt and pepper. Squeeze out the excess liquid from the bread and crumble it into the beef. Mix in the cold cuts, cheese, parsley, garlic and egg. Roll the meat into 1 1/2- to 2-inch balls. Arrange on the prepared baking sheet and roast until browned, about 15 minutes.
Place the tomatoes in a medium bowl; season with salt. Stir in the onion, garlic, parsley and basil. Drizzle with EVOO. Let stand to combine the flavors. Serve the bruschetta topping with the meatballs.
To serve as a meal, add garlic bread and a salad.