Red Velvet Cake: Southern Treat or Delicious Myth?

Im southern, obviously. I grew up loving Red Velvet Cake. No one, in my opinion can make one better than Aunt Ann. I guess I always thought it was a truly southern thing.. I have had a heck-of-a-time finding a bakery in the NW that makes one let alone has heard of it. Most of my friends have not either.
A gal I used to work with who is from Cananda was so intrigued - she made one for me for my bithday a few years ago. ( IT WAS GREAT).
I also always thought that it was a really tough cake to make - sort of an urban legend. This was mostly because my sister tried it when we were younger and it was a blood colored mess. ( she mixed up her sugar and salt i think _ CLASSIC, right?)
SO....Im making it today for my birthday, in the form of cupcakes. I will be using the family recipe i grew up on. Most recipes dont differ by much... I cant wait to devour a few dozen!!
I find cupcakes are easier to force on coworkers than slices of cake.
I did find this little fact about the origin of this mighty cake:

"Although the details are sketchy at best, red velvet cake is not as Southern as many like to think. The story, which began circulating some time in the 1940s, claimed that Manhattan's elegant Waldorf-Astoria granted a diner's request for the recipe, then a short time later sent her a bill in the amount of $100. The angry woman, apparently with revenge in mind, then began circulating the recipe along with the story."