How large a batch are you making? 2-3 lb honey to 1 gal water will push the limits of most yeast varieties and will probably end up medium dry to sweet on its own. Adding a substantial quantity of peaches will make it very sweet and probably even syrupy. You are probably better off deciding batch size and target ABV first, then cutting up your peaches, simmering them, and taking a specific gravity reading before adding honey to reach your target gravity. Don't forget pectic enzyme to prevent pectin haze, and yeast nutrient and tannin, both of which are lacking in peaches.