Who's telling you that peat malt can be up to 10%? Peat malt's flavors range from "ashtray" to "creosote," IMHO.
If you want "bacony," you want either a beechwood-smoked rauchmalt, or one of the other hardwood-smoked malts, not peat. I've got a bock that's lagering, made it with a good amount of cherrywood-smoked malt, really looking forward to that one.