To prepare the cake, preheat the oven to 350 degrees. Butter a 9-inch springform pan and set aside. Put the flour, sugar, and vegetable oil in the bowl of a heavy-duty mixer and mix on medium speed just until the ingredients are moistened. Add the eggs one at a time, fully incorporating each before adding the next. Add the baking soda, baking powder, and vanilla, mix well, and then add the zest, lemon juice, cinnamon, allspice, and ginger and mix well. Pour the batter into the prepared pan and bake in the oven for about 45 minutes, or until a knife inserted in the center of the cake comes out clean. Remove the pan from the oven and let cool for 10 minutes. Remove the cake from the pan and set aside on a plate. To prepare the sauce, place the sugar and water in a large saute pan and cook over high heat until the sugar starts to turn golden. Do not stir. When the sugar is golden, add the peaches and cook until smooth, about 2 minutes. Add the butter and cook until melted, about another 2 minutes. Remove the pan from the heat. If serving the cake with whipped cream, whip the cream to soft peaks. Slice the cake while it is still warm (or rewarm the cake), and place the slices on individual plates. Spoon some of the hot sauce over each slice. Top with a dollop of whipped cream or a scoop of vanilla ice cream, sprinkle with a light dusting of cinnamon, and serve. Per serving: 602 Calories (kcal); 22g Total Fat; (31% calories from fat); 5g Protein; 100g Carbohydrate; 52mg Cholesterol; 97mg Sodium Food Exchanges: 1 1/2 Grain(Starch); 0 Lean Meat; 0 Vegetable; 0 Fruit; 4 Fat; 5 Other Carbohydrates Converted by MM_Buster v2.0n.