Firstly, Many, Many Thanks to everybody that has contributed helpful advice during the course of this thread.
I had no idea that this would involve so many different opinions and varying remedies.
I do listen to advice. In this instance though, having had my little peach virtually condemned,

I decided to hell with it.
I cleared the existing pot soil to a depth of 50mm before finding the start of any real roots.
I dug down and cut any roots that were stopping me from raising the tree (not all) and then lifted it by about 100mm.
I am aware that this may cause great harm or even the death of this tree but with people telling me to get shot anyway it's hardly a gamble.
If it flourishes then that'll be great,

We'll see.
Here are the pics:
