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Re: Storing Cake
It will store fine either way. Leaving it as a cake for long term storage may help the flavors meld together better.

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Re: Storing Cake
Well, I'm no expert, but if I know I'm going to be smoking a caked blend fairly regularly and soon, I rub it out. If I expect to put it away I leave it as cake. This seems to keep it fresher longer, IMHO.
On a related note, anything that comes in the old style tins, IOW not airtight, goes immediately into a Mason Jar. If the tin has the plastic lid, I leave it in that.