What's for dinner? Scallops with Potato Pancakes and Caviar Sauce

Tonight I opted to make a recipe that I saw last week on Food and Wine Magazine's website. I will write more about it when I get a chance, but feel free to check out the link above for the recipe, or see the recipe cut and pasted below. More to come! Cheers!

Ingredients PANCAKES 1 pound baking potatoes, peeled 1 large egg, lightly beaten 1/4 cup matzo meal 1/4 cup grated onion Salt Vegetable oil, for frying SCALLOPS AND CAVIAR SAUCE 1 1/2 cups Champagne 9 black peppercorns 3 thyme sprigs 1 bay leaf 1 large shallot, thinly sliced 1 teaspoon fresh lemon juice 1 1/2 tablespoons crème fraîche 1 1/2 sticks (6 ounces) cold unsalted butter, cut into tablespoons 1 ounce caviar Salt Vegetable oil, for frying 20 medium sea scallops (1 pound) 2 tablespoons minced chives

Directions Make the Pancakes: Coarsely shred the potatoes and squeeze out any excess liquid. Transfer to a large bowl and stir in the egg, matzo meal, onion and a large pinch of salt. Shape the mixture into 20 scallop-size cakes, about 1/2 inch thick; press the cakes to compress them.

In a large skillet, heat 1/4 inch of vegetable oil until shimmering. Working in batches, fry the pancakes over moderately high heat until browned and crisp, about 3 minutes per side. Lower the heat if the pancakes brown too quickly and add more oil if necessary. Transfer the pancakes to a baking sheet and sprinkle with salt.

Prepare the Scallops and Caviar Sauce: Preheat the oven to 325°. In a small saucepan, combine the Champagne with the peppercorns, thyme sprigs, bay leaf, shallot and lemon juice and boil over high heat until reduced to 1 tablespoon, about 15 minutes. Strain the sauce into another small saucepan. Stir in the crème fraîche and bring to a simmer over moderate heat. Remove from the heat and stir in the softened butter, 1 tablespoon at a time. Stir in the caviar and season lightly with salt. Cover the sauce and keep it warm.

Wipe out the skillet and heat 1/4 inch of oil in it until shimmering. Season the scallops with salt and add half of them to the skillet. Cook over high heat until richly browned, about 1 1/2 minutes per side. Transfer to a plate and keep warm while you cook the remaining scallops. Rewarm the potato pancakes in the oven. Arrange the pancakes on a platter and set a scallop on each one. Add the chives to the caviar butter sauce and spoon over the scallops. Serve right away.

Make Ahead: The pancakes and caviar sauce can stand at room temperature for up to 2 hours. Rewarm the caviar sauce over low heat, stirring constantly.