Add the whiskey, vermouth and bitters to a mixing glass containing a few ice cubes and stir. Put the cherry into a chilled cocktail glass and strain the mix over it. Twist the orange peel over the drink and add.
This version is very dry as I like to taste the whiskey. The twist of orange isn't to everyone's taste but I prefer it to the cherry and often leave the cherry out altogether. You could also use orange bitters instead of the regular.