Layer peaches in bottom of an 8-inch square baking dish. Combine graham cracker crumbs, cinnamon, and nutmeg; mixing well. Blend in margarine. Sprinkle mixture over peaches. Bake uncovered at 350°F for 30 minutes. Serve warm.
NOTE: Four cups of fresh or frozen unsweetened peaches, thawed, may be substituted for canned (lite) peaches.