In a small skillet, fry the bacon, stirring often, over medium-low heat until crisp, 8 to 10 minutes. Using a slotted spoon, transfer to paper towels to drain.

In a blender, combine half of one peach and the lemon juice. Puree until smooth. With the machine running, gradually add the canola and olive oils in a slow, steady stream. Add the shallots and pulse to blend. Season with salt to taste.

Put the arugula in a large bowl and add three-fourths of the vinaigrette. Toss to coat evenly. Divide among 6 small plates. Put the peaches in the bowl and add the remaining vinaigrette. Toss to coat evenly. Arrange an equal amount of peaches on top of each bed of arugula. Sprinkle each serving with a pinch of salt. Top each with an equal amount of bacon and basil. Serve.