The Saint of All Carrot Cakes

Really, I modified this recipe to be low-fat, and then I added the cream cheese frosting and that idea was shot. However, I think if I were Catholic, I would be sainted for this carrot cake. If I were British I would be knighted. You get the idea. Anyway, this recipe is for a 9x13, but I halved the recipe and made an 8x8, so I didn't have so many leftovers, which I knew I would (and did) eat for breakfast.

4 eggs
2/3 c. oil
2/3 applesauce
1 c. crushed pineapple, well drained
1 c. white sugar
1 c. brown sugar
3 teaspoons vanilla extract
2 cups all-purpose flour
2 teaspoons baking soda
2 teaspoons baking powder
1/2 teaspoon salt
3 teaspoons ground cinnamon
1 tsp. nutmeg
3 cups grated carrots
1 cup chopped walnuts

1/2 cup butter, softened
8 ounces cream cheese, softened
4 cups confectioners' sugar
1 teaspoon vanilla extract
1 cup chopped walnuts

Preheat oven to 350F. Grease and flour a 9x13 inch pan. You can use Pam spray, but make sure you get it really good before flouring it. Very important step so it comes out of the pan when you're ready to frost it.
In a large bowl, beat together eggs, oil, applesauce, sugars, pineapple and vanilla. Mix in flour, baking soda, baking powder, salt, nutmeg and cinnamon. Stir in carrots. Fold in walnuts. Pour into prepared pan.
Bake in the preheated oven for 40 to 50 minutes, or until a toothpick inserted into the center of the cake comes out clean. Let cool in pan for 10 minutes, then turn out onto a wire rack and cool completely. Once it is cool, frost it on top and sides, then cover with remaining nuts.
To Make Frosting: In a medium bowl, combine butter, cream cheese, confectioners' sugar and 1 teaspoon vanilla. Beat until the mixture is smooth and creamy.