Beat cream cheese and butter in medium-size bowl on medium speed until smooth and creamy. On low speed, beat in flour until the mixture comes together. Pat dough into disk; wrap in plastic wrap; refrigerate 30 minutes.
Combine chopped dried peaches and peach nectar in medium-size saucepan. Simmer over medium-low heat for 10 minutes or until dried peaches are softened. Set aside to cool. Combine thawed peaches, brown sugar, flour, butter, lemon juice and cinnamon in large bowl. Add cooled dried peaches. Set aside.
Preheat oven to 450 degrees F.
Roll dough out into 12-inch circle. Fit into 9-inch pie pan. Fold excess dough under to form standup edge; flute edge. Refrigerate.
Combine the flour, walnuts, sugar, cinnamon and salt in a medium-size bowl. Work in the butter with your fingertips until the mixture is crumbly and large pieces of butter are no longer visible. (Or chop the walnuts in a food processor. Add the flour, brown sugar, cinnamon and salt; pulse with on-and-off motion to combine. Add the butter. Pulse until the mixture is crumbly.)
Spoon peach mixture into prepared pie shell. Sprinkle topping over all.
Bake pie on a baking sheet in 450 degree F oven for 10 minutes. Lower oven temperature to 350 degrees F. Bake for 45 minutes or until filling is bubbly and topping is golden brown. Remove pie from oven to wire rack to cool slightly before serving. Garnish with peach slices if you wish. Makes 8 servings.