Preheat oven to 325⁰ F. Butter (½ to 1 tablespoons) a 14-cup Bundt pan.
Cream butter medium speed with electric mixer until creamy (about 3 or 4 minutes.)
Blend in cream cheese until thoroughly combined.
Combine sugar, nutmeg and salt, and gradually add to butter mixture, continuing to mix at medium speed for about 5 minutes.
Add eggs one at a time, mixing until yellow disappears between additions.
Blend in vanilla.
Fold in flour by hand in approximately ½ cup amounts followed by blending at low speed between additions.
Pour batter into prepared Bundt pan. Bake 1 hour and 15 to 20 minutes, or until the cake tests done (wooden toothpick inserted in cake comes out clean). Let cake cool in pan on a wire rack for 20 minutes or until pan, though still warm, is cool enough to handle. Invert pan and remove cake.
Cake may be baked as two 9×5-inch loaf pans – reduce cooking time to 50-60 minutes. Butter the pan even if it is a non-stick pan.