Preheat oven to 325°.
Trim fat and rind from ham. Score outside of ham in a diamond pattern. Place the ham, bone end up, on a roasting pan coated with cooking spray. Bake at 325° for 1 1/2 hours.
Combine the sugar and remaining ingredients in a small saucepan. Bring to a boil. Reduce heat; simmer for 5 minutes. Remove from heat; discard bay leaf.
Increase the oven temperature to 400° (do not remove the ham from the oven). Brush the cranberry mixture over the ham. Bake at 400° for 15 minutes. Place ham on a platter, and cover with foil. Let stand for 15 minutes. Do not discard drippings.
Place a zip-top plastic bag inside a 2-cup glass measure or bowl. Pour the drippings into the bag, and let stand for 10 minutes (the fat will rise to the top). Seal the bag, and carefully snip off 1 bottom corner of the bag. Drain the drippings into a bowl, stopping before the fat layer reaches the opening; discard the fat. Serve the sauce with the ham.
Note: Wine Suggestion:The tartness of the cranberries, sweetness of the bourbon, and pungency of the horseradish all take this ham in a decidedly different direction than the Ham with Champagne and Vanilla Glaze (page 109). The dramatic boldness of these flavors call for an equally bold and very fruity wine. Gewürztraminers from Alsace, France, fitthebill. Try the current vintage from any of the following producers: Trimbach, Hugel, Domaine Weinbach, or Zind-Humbrecht (about $18 to $22).