In a large skillet over medium-high heat, melt 2 tablespoons of the butter. When the butter begins to sizzle, add the gnocchetti in a single layer. Cook two minutes, until under side of the gnocchetti begins to brown. Turn them over and brown the other side. Remove to warmed plates and keep warm. Add the prosciutto to the skillet and cook just until it begins to crisp, about 2 minutes. Place prosciutto on warmed plates with the cooked gnocchetti. Add the remaining butter and bay leaf to the skillet. When it sizzles, add the peaches, tomatoes, thyme, pepper flakes, nutmeg, balsamic vinegar, port, salt, and pepper. Cook until fruit begins to give up its juices. Gently toss and heat for about 45 seconds. Taste and correct the seasonings.