I've been looking for a lovely, moist pumpkin cake that isn't drowned in oil. I know oil makes it moister but there has to be another way!
I would try subbing unsweetened applesauce for all of some of the oil. I actually think it would work quite well here. Mashed banana may be another substitute. Also, if you just wanted the cake less oily but didn't mind having the oil in there to an extent, I'd say just cut back on some of the oil.
also, here's the pumpkin link from the features section the other day:
You know what..and some might disagree...canned pumpkin filling is superior to DIY pumpkin recipes for pies and cakes.
This one is fabulous--but took a lot longer to bake in my crazy oven.