While continuing to tour the US and Europe with various artists, he recorded many albums plus national radio and TV commercials performing from solo bass to playing with a full symphony orchestra.

Simultaneously, when possible, he continued to tour Europe and Japan with Ben Sidran and worked on numerous recordings of other artists, including Georgie Fame or Phil Upchurch.

In 2004, he was the musical director and bass player for the Legends Rock TV Show shot in the South of France and produced by Megabien Entertainment.

Later that year he co-hosted along with Cynthia Johnson the Funkytown Movie, produced by Megabien Entertainment, which showcases some of the Twin Cities´ finest artists and musicians.

In 2015, Peterson as the bassist of Bob Dylan's album “Blood on the Tracks” received the GRAMMY Hall of Fame Award, which was inducted due to its significance for musical, social, and cultural history.