Flour based buttercreams are pretty old-school and you can find a lot of those buttercreams accompanying Red Velvet Cake recipes.
@TREG, those additional ingredients that you add to whipped cream, whether it be gelatin, mascarpone, butter, roux, etc, act as stabilizers. That's why I used the term. Sorry if it confused you. In addition to stabilizing the cream, they also give it that "mouthfeel" and flavor you are looking for.