For the scones: Place an oven rack in the middle of the oven and preheat the oven to 375 degrees F. Line a baking sheet with a Silpat or parchment paper. Set aside.
In the bowl of a food processor, pulse together the flour, sugar, butter, baking powder and salt until the mixture resembles a coarse meal. Transfer the mixture to a medium bowl and stir in the bacon and cranberries. Gradually stir in the cream until the mixture forms a dough.
On a lightly floured work surface, pat dough into a 1/2-inch thick, 11-by-5-inch rectangle. Cut the rectangle into 8 squares. Cut each square into 2 triangles and place on the prepared baking sheet. Sprinkle the cheese on the tops of the scones. Bake until the edges are golden brown, about 20 minutes. Transfer the scones to a wire rack. Cool for 30 minutes.
For the butter: In a small bowl, mix together the butter, basil, orange zest and salt. Serve at room temperature alongside the scones.
The dough can also be made by hand: stir together the flour, sugar, baking powder and salt in a large mixing bowl. Add the butter. Using fingertips or a pastry blender, work the butter into the flour until the mixture resembles a coarse meal.