I was in Peachtree last week. One of my sons lives just over the Alabama line, so it's become a pretty regular destination for us. Many proposals for a new Atlanta station, but nothing real.
It's kind of hard to say in the context of 1920 or so, but Peachtree (also known as Brookwood) is a couple of miles from Terminal Station, even though it is on a main street that did have streetcar service to downtown. If the train headed west from Peachtree instead of going downtown, as at least some other SRy trains did, then folks getting off the train there can see downtown, as you can today, without being actually there. My guess is that a connecting local was required to get to Terminal Station. I doubt that the modern day elevator had a 1920s equivalent. The stairway to the platform is long. Baggage was handled on the sidewalk of adjacent Deering Road.
Trains arriving from the east heading to Birmingham would have to head south at the wye just west of Peachtree to go to Terminal Station, then turn on the wye downtown and return to begin their trip west. All in all that could add quite a bit of time to the train's trip.
Today's MARTA bus route 110 mirrors the Georgia Railway and Power Company route 10 that served Peachtree in the past.