Grease and lightly flour a 10-inch tube pan; set aside. In a bowl, stir together flour and baking powder; set aside. In a small bowl, combine wine or grape juice, lemon peel and lemon juice; set aside.
In large mixing bowl, beat butter and shortening with electric mixer for 30 seconds on medium speed. Add granulated sugar and beat until light and fluffy. Beat in egg yolks, one at a time. Beat in cream or milk. Add flour mixture to creamed mixture alternately with wine mixture, beating until just combined after each addition. Stir in almonds.
Thoroughly wash and dry beaters. In large mixing bowl, beat egg whites until stiff peaks form. Gently fold 1 cup of the beaten egg whites into the cake batter. Fold in remaining egg whites. Spread batter in prepared pan.
Bake in a 350 degree F oven for 40 to 45 minutes or until a wooden toothpick inserted near center comes out clean. Cool on wire rack for 10 minutes. Remove from pan; cool. Sift powdered sugar over cake.
To serve, cut into thin slices. If you like, garnish with cranberries and sliced kumquats. Makes 16 servings.