Combine the vermouth, whiskey, bitters and ice in a mixing glass. Stir gently, don't bruise the spirits and cloud the drink. Place the cherry in a chilled cocktail glass and strain the whiskey mixture over the cherry. Rub the cut edge of the orange peel over the rim of the glass and twist it over the drink to release the oils but don't drop it in.
VARIATION: No bitters. Substitute a twist of lime for the cherry and orange. Hold the lime twist in a lighted match over the drink and then drop it in. The heat really zips up the lime flavor.
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