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"The New Yorker" Oct. 18 & 25, 1999

Peanut Butter & Co., 240 Sullivan St. (677-3995) - Most grownup indulgences tend to be a lot more expensive, not to mention destructive, than those favored by the clientele of this wholesome West Village fetish shop: the twenty-six-year-old proprietor Lee Zalben's sunny yellow kitchen is a chapel for peanut-butter pilgrims and sugar-loving masochists.

Daily-ground, homemade peanut butter-smooth or crunchy-is the foundation for Zalben's assortment of sandwiches, which range from the conservative lunchbox special P.B. & J. to the unusual white-chocolate peanut butter with orange marmalade to the eccentric spicy Thai chicken sandwich with pineapple jam. The Fluffernutter (P.B. and Marshmallow Fluff) and the peanut butter B.L.T. are tops, but the menu's crown jewel is the decadent Elvis, a grilled P.B.-and-banana combo drizzled with honey which comes with or without bacon (it's better with).

The menu is loaded with references to kindergarten and Mom, which, in concert with the Fiesta Ware china and kitschy décor, encourage regression. One danger: what begins as a revisitation of childhood might immobilize some clean-plate rangers. Those who make it to dessert without a stomachache, though, can proceed to yogurt and peanut butter covered in Grape Nuts and honey, which, believe it or not, is a real palate-cleanser. At the other end of the spectrum is Death by Peanut Butter, a triple-dog-dare: three scoops of vanilla ice cream fortified by Captain Crunch and Reese's Pieces.

To drink, you can do no better than the P.B. & J. milkshake, but more refreshing is a glass of something form the milk bar: whole, low-fat, skim, organic, Lactaid, soy, or rice versions, served straight up or with chocolate, strawberry, or malt syrup (too much of it, frankly).

It all sounds super-caloric, sure, but remember that while peanut butter is more fattening than heavy cream it's packed with a higher content of protein, vitamins, and minerals than an equal amount of beef liver, So have at it, like the regulars, who seem to have no misgivings about paying six dollars for one of these gloppy monstrosities. (Open daily for lunch and dinner, and on weekends for late-night snacks. Sandwiches $4-$7.)