Preheat oven to 325°F. Grease and flour pan or spray with vegetable pan spray with flour.
In bowl, combine flour, baking powder and salt. In large bowl, beat butter, cream cheese and sugar with electric mixer until light and fluffy, about 5 minutes. Add eggs, one at a time, mixing well after each. Add vanilla, mix well. Add flour mixture to butter mixture alternately with milk, starting and ending with dry. Spoon into prepared pan.
Refer to baking chart in the technique section for baking times and temperatures for specific pans. Cool cake in pan about 15 minutes. Remove from pan; cool completely.