In a mixing bowl, combine flour and salt. Cut in the butter until the mixture resembles coarse crumbs. Gradually add ice water, tossing with a fork until dough holds together when pressed. Divide dough in half. Shape each into a disk; wrap and refrigerate for 1 hour or overnight.
On a lightly floured surface, roll out one half of the dough to fit a 9-in. pie plate. Transfer dough to pie plate. Trim even with edge. Add filling.
In a large bowl, combine peaches, sugar, flour, cinnamon, nutmeg, and lemon juice. Toss to coat. Pour into crust; dot with butter.
Roll out remaining dough to fit top of pie; place over filling. Trim, seal, and flute edge. Cut slits in top. Bake 45-50 minutes or until crust is golden brown and filling is bubbly. Cool on a wire rack.