Boil 1 ½ cups water and pour over the dried Porcini and allow to sit for 15-20 minutes to reconstitute. Drain the mushrooms and reserve the liquid. When cool, coarsely chop the mushrooms.
Bring a large pot of water to a boil for the pasta, add 1 TBSP salt. Cook the pasta according to the package directions.
In a large saute pan or risotto pan, melt the butter with the oil over medium heat. When the butter has melted, add the shallots and sweat, stirring frequently, making sure they don’t brown.
Add the fresh mushrooms, turn the heat up to medium high and saute until the mushrooms begin to release their liquid. Add 1 tsp salt, the black pepper and continue to saute until the mushrooms are golden brown.
Add the garlic, rosemary and thyme and cook for 1-2 minutes, making sure the garlic doesn’t burn.
Add the chopped porcini, red wine and ½ cup reserved porcini broth and scrape the bottom of the pan to deglaze. Bring to a boil and reduce the heat to medium low and allow the mushrooms to simmer and liquid to reduce by half. At this point, if your pasta is not ready, remove the mushrooms from the heat and cover.
When the pasta is ready (al dente), return the mushrooms to medium heat and add an additional ¼ cup of porcini liquid and the cream.
Drain the pasta and add to the mushroom mixture, stirring well to coat the pasta with the sauce.
Add the cheese and toss well. If it seems a little dry, add another tablespoon or two of the porcini liquid and/or cream.
Serve immediately in pasta bowls with a fresh grating of cheese and drizzle of good olive oil.