1.) Knead together crumbs and butter in plastic food storage bag. Press over bottom and sides of 9 inch pie plate. Chill in refrigerator.
2.) Boil the water in a small saucepan. Remove from heat. Sprinkle gelatin over top. Let stand 5 minutes to soften, stir to dissolve.
3.) Reserve some peaches for garnish, transfer rest to processor. Process until coarsely chopped. Add sugar and cream cheese, blend then transfer to a large bowl.
4.) Beat heavy cream and confectioners sugar in medium bowl until soft peaks form. Set aside 1/3 cup whipped cream, fold remainder into peach mixture. Stir in gelatin mixture. Spread in pretzel shell.
5.) Dollop reserved whipping cream on top. Garnish with reserved peaches. Chill 1 1/4 hours. Serves 8.