I tried this recipe for Easter. It's a great place to start -- but not quite there yet. It was over-the-top too sweet for my taste (and I love sweet stuff). And the carrot flavor got lost in the shuffle. I will be tweaking this recipe and test driving it again in the future by decreasing the sugar to a total of 1 1/2 cups (3/4 c. white and 3/4 c. brown), and increasing the shredded carrots to 3 cups.
As for the frosting, I was very skeptical of using only 1 1/2 c. powdered sugar -- but I gave it the benefit of the doubt and stuck with the original recipe. And I loved it. Using the smaller amount of powdered sugar let the cream cheese flavor shine through. Of course, you could never use it to pipe. (But that is true of all cream cheese frostings.)
I did make this cake in two 9-inch cake pans as written and tested the cake after 30 minutes. It was spot on. I was afraid the cream cheese frosting would melt down the sides of the cake, but it held up fine with keeping it in the refrigerator. My husband can't stay out of it!