Drain peaches well, reserving 1 1/2 cups syrup.
In 2-quart bowl, combine reserved syrup, vinegar; allspice, cloves and cinnamon sticks.
MICROWAVE 4 to 6 MINUTES on HIGH, or until mixture boils.
MICROWAVE 4 MINUTES on '6'.
Remove and discard cloves.
Arrange peach halves in (12 x 8-inch) baking dish.
Pour hot syrup over peaches.
MICROWAVE 5 MINUTES on '6', basting peaches several times.
Serve hot or cold.
Peaches will keep in jars several days, refrigerated.