Prepare Grits Cakes: Spoon 1/4 cup grits into each cup of a lightly greased (with cooking spray) 6-cup muffin pan, smoothing tops. Cover and chill 4 to 12 hours. Remove cakes from pan, and sprinkle with desired amount of salt and pepper. Cook cakes in hot drippings in a large skillet over medium-high heat 3 minutes on each side or until brown. Keep warm in a 200° oven.
Prepare Gravy: Melt 1/4 cup butter in a large skillet over medium-low heat. Whisk in flour. Cook, whisking constantly, 1 minute. Gradually whisk in milk; reduce heat to medium, and cook, whisking constantly, 10 minutes or until thickened. Stir in 1 tsp. salt, 1/2 tsp. pepper, 1/2 tsp. hot sauce, and remaining 1 Tbsp. butter.
Assemble: Place each warm grits cake on a plate; top with 2 Tbsp. gravy and 1 Poached Egg. Sprinkle with chives, salt, and pepper.