Sure, let me write something up, send it out, and have everyone review it. After recieving their feeback I'll update the post and release it for everyone to . . . . hey wait! I'm giving away the answer!!
Peer reviews are a proven method for identifying defects in all types of work products. One of the common misperceptions of VER SG2 is that it is only performed as part of a linear "VER" process. I see it as a "stand-alone" utility process that is used throughout a project to identify and drive out defects long before they become part of our product.
SP2.1 - Prepare for peer reviews involves identifying participants, selecting the appropriate "style" of peer review (Fagen inspection or something lighter perhaps), sending our materials, setting up the room, identifying roles, and so on.
SP2.2 - Conduct peer reviews is kind of obvious - conduct it PER THE PLAN (from SP2.1). Identify and record issues, assign action items, and so on.
SP2.3 - Analyze Peer Review data involves understanding what was discovered during the peer review, both at a project and organizational level and taking appropriate action.
I would recommend you consider peer reviewing all plans, requirements, designs, code, and test results at a minimum. The life you save may be your own!