Preheat the oven to 350 degrees F. In mixing bowl, combine flour, salt and shortening. Mix until the mixture becomes mealy. Add water and mix well. Form into a ball and cover with plastic wrap. Refrigerate until ready to use. For the filling: Melt the butter in a large saucepan, over medium heat. Add peaches and mix well. In a small bowl, combine sugar, flour, cinnamon and nutmeg. Add to the peaches and mix well. Reduce the heat to low and continue to cook for 8 to 10 minutes. Remove from the heat and cool completely. Stir in the vanilla and set aside. Remove the dough from the refrigerator and divide in half. On a floured surface, roll out half of the dough into a rectangle, 12 by 10 inches. Using a knife, cut the dough to fit the pan, reserving the excess trim. Place the dough in an 11 by 9 x 4 inch pan and press down to mold. Pour half of the filling over the crust. Cut reserved dough into nickel-size pieces. Dot peach filling with dough. Pour remaining filling over the dough pieces. Roll out remaining ball of dough and place on top of the peaches, pinching the edges to seal in the juices. Make 3 slits in the top crust and place in oven. Bake for 30 to 40 minutes or until golden brown. Remove from oven and rest for 10 minutes before serving. Spoon cobbler into individual bowls and serve with a scoop of ice cream.