PLACE sliced peaches in a 2-quart square baking dish; STIR in granulated sugar.
In a medium mixing bowl, COMBINE oats, brown sugar, flour and cinnamon; CUT in butter until mixture resembles coarse crumbs; STIR in chopped nuts.
SPRINKLE oats mixture over peaches.
BAKE in a 375° oven until peaches are tender and topping is golden, about 30 to 35 minutes.
If desired, top warm crisp with scoops of ice cream.
Per Serving (excluding unknown items): 328 Calories; 12g Fat (31.7% calories from fat); 5g Protein; 54g Carbohydrate; 5g Dietary Fiber; 21mg Cholesterol; 86mg Sodium. Exchanges: 1 Grain(Starch); 0 Lean Meat; 1 Fruit; 2 1/2 Fat; 1 1/2 Other Carbohydrates.