Preheat oven to 350ºF. Grease and flour a 10-inch tube pan.: As the oven warms to 350ºF , the kitchen begins to smell faintly warm, a hint of the baking to come, and the preheated air helps the batter set quickly for good rise. Greasing and flouring a 10 inch tube pan ensures the cake will release cleanly, and you will see the batter cling slightly as you spoon it in. The greasy sheen plus a light dusting of flour prevents sticking in the crevices of the tube, which matters because this cake is dense and can grab. A common mistake is skimping on greasing which leads to torn cake when unmolding; take the extra moment to coat the pan thoroughly and tap out excess flour.
Spread pumpkin over 2 layers of paper towels; cover with 2 additional layers of paper towels. Let stand about 10 minutes. Scrape drained pumpkin into a bowl.: When you spread the pumpkin across paper towels, you will see water bead and be absorbed very quickly, leaving the pulp thicker and more concentrated. After waiting about 10 minutes , the drained puree will be noticeably less watery and feel denser between your fingers, which helps the batter stay structured rather than soupy. Scraping it into a bowl reveals a velvety, matte orange paste full of spice aroma. If you skip this step, the batter can become too loose and the crumb may be gummy, so don't rush the drain.
In the bowl of an electric mixer, beat granulated sugar, brown sugar, butter at medium speed 3 minutes or until well blended. Add eggs, one at a time, beating well after each addition. Add drained pumpkin and vanilla, mix well.: As you cream granulated sugar , brown sugar , and softened butter , the mixture will lighten in color and become fluffy, giving you tiny air pockets that help lift the dense batter. Three minutes at medium speed usually produces a satin texture; you will hear a soft, steady whir and see the mixture pulling away from the sides. Adding eggs one at a time ensures each incorporates fully, so the batter stays smooth rather than curdled. Once you fold in the drained pumpkin and vanilla , the batter will smell warmly spiced and have a homogeneous sheen. Overbeating after adding flour later can toughen the cake, so stop once everything is just combined.
Combine flour, pumpkin spice, baking powder, baking soda and salt in a bowl. Add flour mixture and 3/4 cup buttermilk alternately to batter, beginning and ending with flour mixture. Spoon batter into prepared pan.: Mixing the dry flour with pumpkin spice , baking powder , baking soda , and salt ensures even distribution of leavening and spice so there are no salty or bitter pockets. Alternating additions of the dry mix with 3/4 cup buttermilk produces a smooth, cohesive batter and prevents overmixing. The batter will feel dense but pliable and hold a ribbon when lifted slightly with a spatula. Spoon it evenly into the prepared pan and tap once on the counter to release large air bubbles. A frequent mistake is adding all the liquid at once which can lead to an overworked batter and a tougher crumb.
Bake for 55 minutes or until a wooden pick inserted in center comes out clean. Cool in pan 10 minutes on a wire rack. Remove from pan, and cool completely on wire rack.: While baking, the kitchen will fill with a toasty, spiced aroma and the top will take on a warm, golden brown color. Around the 55 minute mark, insert a wooden pick into the center; a clean pick means the interior is set, though a few moist crumbs are fine. Letting the cake cool in the pan for 10 minutes allows it to firm up so it unmolds without collapsing, and moving it to a wire rack finishes drying the exterior slightly for clean glazing. Don't force removal when too hot, as it can break; patience here preserves the loaf's shape.
Combine all ingredients in a small saucepan over medium heat; bring to a boil. Cook 1 minute or until thick, stirring constantly; remove from heat. Drizzle cake with glaze.: As you bring the buttermilk , granulated sugar , butter , pumpkin spice , vanilla , cornstarch , and a pinch of baking soda to a boil, the mixture will steam and smell tangy and sweet. Stirring constantly prevents lumps and helps the glaze turn glossy; after about 1 minute of vigorous stirring it will slightly thicken and cling to the spoon. Remove from heat, let it cool a touch so it is viscous but pourable, then drizzle over the cooled cake so it forms shiny ribbons and small puddles. If the glaze is too thin, it will run off the cake; if too thick, warm it gently and whisk to loosen.