Position knife blade in food processor bowl; add first 3 ingredients, and pulse 2 or 3 times. Add margarine pieces, and pulse 10 times or until mixture resembles coarse meal. With processor running, slowly add ice water through food chute, processing just until combined (do not form a ball).
Gently press flour mixture into a 4-inch circle on heavy-duty plastic wrap; cover with additional plastic wrap. Roll dough, still covered, into a 15- x 13-inch rectangle. Place dough in freezer 5 minutes or until plastic wrap can easily be removed. Remove top sheet of plastic wrap. Invert and fit dough into a 2-quart baking dish coated with cooking spray, allowing dough to extend over edges of dish; remove top sheet of plastic wrap.
Combine peaches, 1/2 cup brown sugar, 2 1/2 tablespoons flour, vanilla, and cinnamon in a large bowl; toss gently. Spoon peach mixture into prepared dish; fold edges of dough over peach mixture (it will only partially cover peaches). Sprinkle remaining 1/4 cup brown sugar over peach mixture; sprinkle with almonds.
Combine egg and 1 teaspoon water in a small bowl; stir well. Brush egg mixture over dough, and sprinkle with 1 tablespoon sugar. Bake at 375° for 45 minutes or until filling is bubbly and crust is lightly browned. Let cobbler stand 30 minutes before serving.
I made this recipe exactly as written. First, when baked, there was a lot of liquid left in the dish, and by the next day, the liquid soaked into the bottom crust, making it soggy and taste like it was uncooked. Next, the brown sugar dominates over the natural sweet flavor of the peaches. Too many other good recipes out there for this cobbler. I won't be making this again; it was a real disappointment.
I have made a number of Peach Cobblers in my life and this was the first I'd attempted with a crust on the bottom rather than a streusel at the top.. First of all, the crust needed additional water to get to a consistency that I could "press into a 4-inch circle" and then it was hard and flavorless once cooked. The almonds didn't add anything special other than a healthy aspect to the recipe but, I would leave out if you're going to try it.
The filling was all that I ended up eating.
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