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Heat grill to medium-high temperature, about 450 degrees.
Wash peaches, slice around middle with paring knife, separate halves and remove pits. In small saucepan, heat butter and sugar until sugar dissolves. Stir in cinnamon, nutmeg, or cardamom, if desired, and set aside.
Brush grill and flesh side of peaches with oil. Place peaches on grill grates, cut side down, close lid, and grill 2-3 minutes. (Check for grill marks.) Turn fruit over using spatula or tongs, brush with butter-sugar mixture, and continue to heat 2-3 minutes, depending on size of peach. Peaches should still hold shape well. Serve warm or at room temperature with ice cream or whipped cream.