Preheat oven to 350°F. For crust, in a food processor combine graham crackers and melted butter. Cover and process with several on/off pulses until well mixed. Press mixture onto the bottom of a 3-quart rectangular baking dish. Bake about 10 minutes or just until golden; cool.
In a large mixing bowl beat pumpkin, cream cheese, pudding mix, 1 teaspoon of the pumpkin pie spice, and the vanilla with an electric mixer on medium to high speed until combined. Gradually add milk, beating on low to medium speed about 3 minutes or until smooth. Spread mixture over crust.
In the same bowl fold together whipped topping and the remaining ½ teaspoon pumpkin pie spice; spread over pumpkin layer. Sprinkle with pecans. Cover and chill 4 to 8 hours before serving.
Test Kitchen Tip: This is a "spoonable" dessert, best served in small bowls with spoons.