Butterscotch flavor: Truly traditional butterscotch doesn't get cooked quite to smoking. I like a hint of smokiness in my butterscotch, but if you prefer yours milder, then take the butter and brown sugar off the heat as it forms a bubbling, molten mass, and do not wait to see any smoke.
To serve: I love butterscotch pudding with whipped cream, of course, but also try it with creme fraîche and a sprinkle of salt or turbinado sugar.