The key thing to notice here is there is NO SODA WATER. A correct Old Fashioned is delicious if its flavors haven't been drowned out in soda.

So. Take an old fashioned glass (a short tumbler) and add a cube of sugar (or equivalent amount) and just enough water to dissolve it. Add 3 or 4 heavy dashes of bitters and muddle them together until the sugar is dissolved. (Simple syrup would also have been fine.) Add a large strip of orange peel to the glass and press on it with the muddler or back of a spoon to squeeze out some of the oils. (Don't seriously muddle it or you'll end up with mangled peel in the bottom of the glass.)

That being done, add a couple of ice cubes and about 2 ounces of whiskey, either bourbon or rye. Garnish if desired with an orange slice and/or cherry.