To make the crust, mix butter, 1/3 cup sugar, flour, pecans and 1/2 teaspoon vanilla extract in a bowl. Press into the bottom of a 10-inch pie plate.
Bake the crust in preheated oven for 5 minutes. Remove and allow to cool.
Meanwhile, beat the cream cheese, egg, almond extract, 1/4 cup sugar, and 1/2 teaspoon vanilla extract in a bowl until smooth. Gently fold the peach slices into the cream cheese mixture. Spread the filling over the cooled crust. Sprinkle the cinnamon over the top.
Bake in preheated oven for 10 minutes. Reduce heat to 325 degrees F (165 degrees C) and continue to cook for 20 to 25 minutes more.
