Preheat oven at 350. Grease and flour a 10 inch tube pan. Stir together flour, baking powder and salt. cream butter and sugar until light in a large bowl. Add eggs, one at a time beating well. Combine applesauce and heavy cream and vanilla, stir. Add dry ingredients to creamed mixture, alternately with applesauce mixture, combining lightly after each addition. Stir in nuts and chopped apples. Pour into greased and floured 10 inch tube pan. Bake at 350 for 1 hour and 15 minutes. Test because it may need more time. Leave in the pan and coat with buttery glaze, recipe below
Buttery Glaze: In a small saucepan combine 1 cup sugar, 1/2 cup water, 2 tablespoons butter and if you like 1 teaspoon of hazelnut flavoring(you can leave it out if you like) or leave the flavoring out. Stir and bring to a boil simmer 2 minutes. Remove from heat and pour immediately over the warm cake. Let stand in the pan a few hours.
By the way, I think this could be made in a smaller cake pan possibly in a star shaped or some of the other beautifully shapped ones.