have been searching and Googling until I can search and Google no more! : slight exaggeration here but have tried to come to a decision as to what exactly a 'pound cake' is and it's UK equivalent. Am I right in thinking it's  just a basic sponge cake:

1 lb butter

1 lb sugar

1 lb SR flour

8 eggs?

It comes recommended in lots of forums and sites as the best recipe as a mix for a Topsy Turvy Cake. have yet to try making one but am edging closer to taking the plunge - any advice welcome- thanks :-) 

AIt's like British Madeira cake. Denser than Victoria sponge.

In the US, the original idea behind pound cake was a cake made of four ingredients - a pound each of flour, butter, sugar, and eggs. But as with most foods, recipes and definitions have changed. I think of pound cake as having a tight even grain with a soft crumb. Depending upon the application, this texture is often preferable.

How long do you bake this? Do you just test and watch til it's done?

It depends upon your oven temp and pan size. Baking a large bundt or tube pan at 325 degrees F. will take far more than one hour. Small cakes (I often make 2 1/2" cupcake sized cakes) baked at 350 degrees F. can be done in 20 minutes. You're right - test and watch until done!