Meanwhile, fry the bacon in a bit of oil until it is crisp and drain it thoroughly on paper towels.
Remove the loaf from the oven when it is evenly browned, after approximately 15 minutes. Slice the loaf lengthwise and hollow out the interior, leaving as much bread along the walls as desired. Slather a thick layer of peanut butter in the cavity of the loaf and follow with another thick layer of grape jelly. Use lots of both.
While the bacon is still warm, place a layer of slices in the loaf on top of the peanut butter and jelly layers. Close the loaf and serve.
posted by Mr Falafel