This mushroom has the widest spaced gills I have seen so far in any mushroom.

It is hard and brittle, including the gills.  Similar to the flesh of the Lobster Mushroom.

The cap is 3" in diameter.

Gills

Top

Stem

The spore print came out cream color. Since it is so distinctive, I thought someone would recognize it.

Extra Extra...
John III of the Western PA Mushroom Club identified it as Russula earlei - The Beeswax Russula.  I could not find a listing in any of my mushroom guides.  The "Beeswax" describes it to a T!
John III sounds like a Pope, doesn't it?  He is one of their 6 club mycologists.  His full name is John Plischke III.  Now that is what I call hearing it from the horse's mouth :o)  That club has experts willing to help a beginner!!

It was hard to find a description of this mushroom even on the internet.  The best I found was
http://www.rogersmushrooms.com/gallery/DisplayBlock~bid~6006~gid~.asp