Cherry will produce in as little as 2 yrs (a tease of a crop). Apple, could depend on the type of tree. A dwarf will produce in 2 to 3 yrs and continue for about 20. A standard can take up to 7 before it begins to offer its bounty, and will produce many many yrs if well taken care of.
Personally, I prefer dwarfs. I can plant them much closer together than standards, get fruit much sooner, and when the production shows a decline (in nearly 20 yrs) I'll just set out some more dwarfs.