I've made the pineapple version of the cake many times, and it's great. Even the angel food cake haters I've served it to have loved it.

I once took part in a discussion on another forum about making the cake with other kinds of fruit. Several ladies had tried different canned fruits with some apparent good results. I can't vouch for any of them because I've never used anything but pineapple.

I would assume that if you use canned peaches in heavy syrup, the cake will turn out much sweeter than one made with pineapple in its own juice, because of the large amount of sugar in the syrup. You should take that into account should you try to experiment. Also, pineapple has a naturally tangier flavor than peaches.