In a large mixing bowl, whisk together the flour, sugar, baking powder, baking soda, salt, cinnamon and nutmeg. Using a pastry cutter, cut in the butter and cream cheese until you get pea-size clumps.
In a separate mixing bowl, combine the egg, buttermilk, vanilla and almond extracts. Using a fork, lightly beat together. Add the liquid to flour mixture and gently combine the two to make a soft dough. Do not overmix!
Wrap the dough in plastic wrap and let rest in the refrigerator for 10 minutes. Remove and place onto a well floured surface. Divide the dough into two balls. Roll each into a circle, approximately 1/2 inch in thickness.
Brush half of the rolled dough with some of the remaining buttermilk. Place the peach slices in a single layer across the side of the dough with the buttermilk. Sprinkle with the cinnamon/granulated sugar mixture. Place the plain circle of the dough over the peach layer, pressing gently to encase it. Using a sharp knife (or pizza cutter), slice dough into eight wedges.
Place dough onto a parchment (or baking mat) lined sheet about 1 1/2 inches apart. Bush each scone top with buttermilk, then sprinkle with the topping.
Place in the oven to bake for 18-20 minutes or until the tops are golden brown in color. Remove from oven, allow to cool on the sheets for 3 minutes before transferring to a wire rack to cool until warm.
Notes
You can easily substitute 1 c. of all-purpose flour for whole wheat flour. -Any seasonal fruit would be excellent in the center of these scones. Try subbing the peaches for strawberries, cherries, nectarine or pear.