The concept that because the wood grain expands and contracts oppositely it would keep the necks from warping.
In practice, it's not totally necessary. Firebirds and various BC rich designs do well without it.
looks laminated to me. gibson usually laminates any non mahogany neck. maple especially, as it has a desire to twist.
you can do it any way you like - guitars often violate conventional wood joining wisdom - doesnt mean its best.
ric wasnt the first to laminate a neck either, i think its been done since the 1800's at least with classicals.
in any case, cherry should make a perfectly fine gutiar body. i dont know how stable it would be for necks.