I would have thought by planting spring of 2006 that you might have had a bloom or two this season. However, this was a bad spring season in many places, with the very late freeze affecting some buds/blooms.

but the plants are still short (about 12"), and no buds.
Most peonies only bud and bloom one time and that is in the spring. There are a few rare exceptions I think...like possibly some 'tree' peonies.

Are they pretty well getting full sun? Were you careful to not plant the 'eyes' too deep? The eyes should not be any more than 2" deep, or they will not flower.

Sue

My peonies appreciate 3 or 4 inches of finished compost spread around them, not on top, spring and fall. Yours will probably give you a bloom or two next year. The short stems may be caused by soil not containing enough vegetative matter to promote a healthy soil food web. Al