Ok, I finished the sauce. I have not had it with any meat yet, but I will by this weekend. I made a double batch, and only a couple minor deviations. I used dark brown sugar instead of light brown, I also used extra garlic and the molasses I used was blackstrap molasses. For pepper, I used one of those pepper medley grinders and gave about 8 cranks of the grinder. I also upped the simmer time to about an hour. With this recipe, you should be able to get a bottle worth of sauce.
Tasting the sauce, it was spot on with what Hoopz said. It is a simple flavor, but that emphasized the cherry flavor. The cherry flavor, which I think is the hard thing to achieve, was exactly spot on what I was hoping for in flavor.

Blended well and has a very rich color to it. To be critical of the sauce, I generally only like this sweet of a sauce if there is an offsetting flavor like chili peppers. It felt even a bit sweeter than a honey BBQ sauce. I will be chowing this stuff down though, I absolutely love the cherry flavor in it, and i think it will taste well with ribs or chicken.
I will probably try a couple variants. My first idea, would be to make this exact sauce, but toss in some spicy peppers. That way you would get a sweet and spicy mix sauce, and the sweetness would fit my taste buds much better.
My second idea is to bring it closer to Chad / North Carolina type sauce and use this cherry method and maybe sub the water for vinegar and tomato paste for ketchup?

Maybe toss in whiskey? haha. I've made a few vinegar based sauces before, but never one with a stronger sweet, fruity flavor in it. I'm just stabbing in the dark on how it would be done.