Adjust oven rack to lower-middle position and heat oven to 325°F.
Fry the bacon in large, deep sauté pan until the bacon has partially cooked and released about 1/4 cup of drippings. Remove the bacon from the pan and drain on paper towels.
Add the onion and pepper to drippings in the pan and sauté until tender, about 5 minutes.
Add the beans and remaining ingredients to the pan; bring to a simmer. (If the pan is not large enough, add the beans and heat to a simmer then transfer to a large bowl and stir in the remaining ingredients)
Pour the flavored beans into a greased 13-by-9-inch (or similar size) ovenproof pan. Top with bacon, then bake until the beans are bubbly and the sauce is the consistency of pancake syrup, about 2 hours. Let stand to thicken slightly and serve.
