Preheat oven to 350°.
Trim fat and rind from ham. Score outside of ham in a diamond pattern. Place ham on a broiler pan coated with cooking spray.
Combine juice, preserves, and mustard in a medium bowl, stirring until well combined. Set aside half of preserves mixture.
Bake ham at 350° for 1 1/2 hours or until a thermometer registers 140°, basting with half of preserves mixture every 20 minutes. Remove ham from oven. Place ham on a platter; cover and let stand 15 minutes before slicing.
Place reserved preserves mixture in a large nonstick skillet over medium-low heat. Cook until reduced to 1 cup (about 15 minutes). Serve sauce with ham.
Wine note: Smoked ham is a wine challenge--the dominance of the smoke usually ends up making wine taste like water. But one part of the world has a lot of experience pairing ham and pork with wine, and that's the Alsace region of France. With a ham dish as complex as this one, opt for one of the most dramatic wines from Alsace: a dry muscat. Domaine Weinbach's Muscat Réserve 2003 ($38) is one of the best and dramatic enough to match this ham. Its exuberant fruity flavors must be experienced to be believed. -KM