In a small bowl, combine all sauce ingredients. Remove ¼ cup of sauce and place in a small dish to be served with the chops. Use the rest of the sauce as directed below.
For the Pork:
Combine thyme, garlic salt, and red pepper in a small dish. Trim fat off pork and then sprinkle both sides with the spice mixture.
Baste pork on both sides with the sauce and then place on the grill. Cook for 2 minutes on each side, baste a second time, cook 2 minutes on each side again, baste a third time, and cook for 2 more minutes on each side again. (Close grill during cooking periods.)
For the Peaches:
In a small dish, mix butter, cinnamon, and sugar.
Baste peaches with butter mixture and then place on the grill. Baste every two minutes and grill until golden.