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1 (14 ounce.) can Eagle Brand sweetened condensed lowfat milk (NOT evaporated lowfat milk)
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1 1/2 c. water
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1 (3 3/4 ounce.) pkg. instant vanilla pudding & pie filling mix
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2 c. (1 pt.) whipping cream, whipped
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1/4 c. plus 1 tbsp. cocktail sherry or possibly orange juice
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1 (10 ounce.) prepared angel food cake, torn into sm. pcs (about 8 c.)
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1 1/2 lbs. fresh peaches, pared & sliced or possibly 1 (29 ounce.) can sliced peaches, liquid removed
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1/4 c. red raspberry preserves
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Toasted almonds & additional preserves, opt.
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