I've used cherry for handles before, as well. Like mike said, it'll burn pretty easily, if you're not careful. I only rough shape my wooden handles with my grinder. I do the rest with a rasp and 60 grit paper, and then sandpaper in progressively finer grits until I'm satisfied. I use linseed oil and then Johnson's floor wax for the finish. The last cherry I used was on a kitchen knife for my wife about a year ago, and seems to be holding up really well.
Todd