Preheat oven to 350°F (180°C). Grease and flour a Bundt pan.
In a large bowl, combine the rolled oats, flour, baking powder, and a pinch of salt.
In another bowl, cream together the butter and sugar until light and fluffy. Add the eggs one at a time, mixing well after each addition.
Alternately add the dry ingredients and milk to the butter mixture, beginning and ending with the dry ingredients. Mix until just combined. Stir in the vanilla extract.
Pour the batter into the prepared Bundt pan and spread evenly.
Bake for 40-45 minutes, or until a wooden skewer inserted into the center comes out clean.
Let the Bundt cake cool in the pan for 10 minutes before inverting it onto a wire rack to cool completely.
Dust with powdered sugar, sprinkle with rolled oats, or drizzle with chocolate sauce before serving.
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