Place the peanuts in a large bowl. Add the Worcestershire sauce and liquid smoke and toss to coat. Let set for 30 minutes, tossing every 10 minutes.

Preheat your oven to 325 F.

Lightly spray a baking sheet with non-stick spray.

Add butter to a large skillet and melt over medium low heat.

Reduce heat to low.

Stir in the vinegar, hot sauce, salt and cayenne.

Add in the peanuts and stir to coat well.

Pour nuts out evenly onto the baking sheet.

Bake for 20 minutes or so, stirring every 5 minutes, until the nuts are a dark golden brown.

Remove to a rack or another (dry) baking sheet and let cool, uncovered, for 5-6 hours.