I've seen cherry mandos and they can look sharp. I've never played one. Flatiron had a pancake they called "Cherry", but I think it was maple with a red finish rather than built of cherry wood.
I've used a lot of cherry for furniture and cabinets and I think if you get something with straight grain it should be plenty stable. I would think some of the other fruitwoods would make nice mandos as well; I've worked with apple and apricot and they have great textures.
"... beauty is not found in the excessive but what is lean and spare and subtle" - Terry Tempest Williams