Pörkölt: Hungarian beef stew

I enjoy this warming stew and have always liked the flavor of paprika, sweet or spicy, Hungarian or smoked as they do in Spain. The recipe below is based on Eating European and Daring Gourmet. 

Pörkölt topped with sour cream, over spätzle

Today in Barcelona, I'm substituting some local ingredients -- Spanish pimenton dulce for Hungarian sweet paprika, red bell for green, Spanish onions for sweet ones, schmaltz for lard; I'm picturing lots of grandmothers spinning in their graves, but it makes for a fine dinner.

Takes about 2.5 hours, most of which is simmering almost unattended.
Serves 2 graciously.

             Lard, bacon fat, schmaltz, butter, olive oil, ...

   1 medium  Onion, finely chopped

 1/2 medium  Green Pepper (or red), seeded, finely chopped

   1 clove   Garlic, minced

 340 g       Beef for stew (chuck, "aguja", "cap de mort"), 1cm chunks

  10 g       Paprika, Hungarian, (or Spanish), sweet [2 Tbs]

   1 medium  Tomato, finely diced

  to taste   Salt [1 tsp]

  to taste   Black Pepper, ground

   1 g       Caraway Seeds, coarsely crushed [1/4 tsp]

   1         Bay Leaf

~200 ml      Water (or Beef Stock)

In a large heavy pot or skillet, melt the Lard or other Fat, then sauté the Onions until softened and golden.

Add Bell Pepper and Garlic, and cook 2-3 more minutes.
Move the veggies to the edge, or remove temporarily, and add Beef and sauté to brown, and cook until some of the pink is gone.
Stir in Paprika and and Tomato, then remove from heat so it doesn't turn bitter.

Add the Salt, Pepper, Caraway Seeds, and Bay.
Add just enough Water (or Stock) to come up halfway, to barely cover the Beef.
Return to heat, bring to boil, reduce heat, then cover and simmer 90 minutes.
(While it's cooking, you can make the Spätzle.)

The stew should be fairly thick; if not, remove the cover, increase heat, and let evaporate.
Adjust Salt and Pepper.

Serve, optionally topped with a dollop of Sour Cream.

Accompany with Spätzle, boiled potatoes, or wide egg noodles.

[I'm adding "porkolt" here since Blogger's search won't find the real name without the umlauts]