I think you're comparing apples and oranges here. the Vinyl laminate may be nice for what it is, but what it is is fancy contact paper- not veneer by any stretch of the imagination. I always thought the term "photo laminate" was brilliant marketing! May be good to save hassle, but it's just not going to compare to a real wood veneer that's decently finished, IMHO. Just a question of much you want to do... The pre-veneered wood may be a good compromise if it's good quality.

Also, cherry (the wood, not the picture of the wood) has some special considerations to get a nice finish- not too big a deal. Maybe Bill Epstein or one of the others who knows can fill you in.

Good luck with the project!

Matts