Lower the heat on the oven to 325°F (160°C).
Wrap springform pan. Wrap the outside of the springform pan in 3-4 layers of aluminum foil, ensuring none of the pan is exposed and any water can get jn. I also recommend wrapping in a slow cooker liner. Or you can place the pan into a larger pan like a 10-inch cake pan then place the larger cake pan into a large roasting pan. I find if I use just tin foil water it still gets in.
Prepare the water bath. Prepare pan and boiling water: Place the foil-wrapped springform pan in a large, high-sided roasting pan. Prepare 2 quarts of boiling water.
Assemble the cheesecake. Add about ½ of the cheesecake filling on top of the crust. Layer half of the peaches on top (making sure to leave any juice behind in the bowl.) Sprinkle on half of the baked streusel. Pour the rest of the cheesecake filling on top. Smooth the top with a rubber spatula.
Place in oven. Place the roasting pan with the springform pan in it, in the oven.
Add hot water. Carefully pour the hot water into the roasting pan, pouring until the water reaches halfway up the side of the springform pan.
Bake the cheesecake. Bake at 325°F (160°C) for 1 1/2 hours (90 minutes) until the edges of the cheesecake are set and slightly golden brown, and the middle of the cheesecake is set but still slightly wobbly. If you notice the top is browning too quickly, tent the top of the pan with tinfoil halfway through baking.
Allow cheesecake to cool in the oven. Turn off the heat of the oven. Crack open the oven door and let the cake cool in the oven, as the oven cools, for one hour, which will help prevent the cheesecake from cracking.
Chill the cheesecake. Cover the top of the cheesecake with a paper towel (to help with condensation forming) and then cover in foil. Chill in the refrigerator for a minimum of 4 hours, or overnight. Before serving top with the reserved peaches and streusel on top in the center of the cheesecake.