Out walking the dogs today and saw a neighbor cutting down a cherry tree.  Got the truck and loaded the back with quite a few nice size logs that I'm sure I'll do something with.

So, this wood is very green... he just cut it down today and one piece still has a branch with a couple of live leaves on it.

Should I seal the ends? Is latex paint adequate for doing this?  I don't have anchorseal, but I have a ton of half-full paint cans from remodeling over the years.  I'd love to find a good use for the paint and not have to spend the money on a special product.

Any other options for sealing?  Does cherry check badly if it goes unsealed?

Ditto what Doug said. Latex in multiple coats can help, but it's not as effective as a wax sealer like Anchor Seal. Your local turning club might have it available for a cut rate price...I know the Glendale group does. As your weather in the high desert starts to warm up, it'll be more and more important to have them sealed. I've also heard of people (including another desert dweller who's in Palm Springs) storing green wood submerged in water in trash cans or barrels. They add a bit (?) of Clorox to keep the algae at bay, but the wood definitely doesn't dry out.

It's also important to cut the pith out of the logs as soon as possible. (Usually days, not weeks, and especially with fruit woods like cherry.) That's where all the cracking will begin, and once it starts, it's about impossible to stop. I'd be glad to cut them up for you if you feel like schlepping them down here. If you know someone closer to you with a chainsaw, you might be able to barter a few beers for some quality cutting time.

I've used paraffin wax, latex paint, and Anchorseal. Effectiveness, in order from best to worst, Anchoseal, paraffin, latex paint.

yes, sawing or splitting away the pith is an asap item. if in a hurry you can chainsaw a kerf half way through the log into the pith core so that it will stress relieve and open rather than splitting. at least do this and save a much higher yield of that fine cherry. the best pieces you can then select and rough turn to further enhance your chances of success. enjoy your fine home-made wood at the lathe.

my favorite end grain sealant is old yellow carpenters glue or the white stuff. if it has thickened you can thin it with water.  you can get the white elmer's at walmart after the school year is over for 90% off sticker price. they also almost give it away during school supply time in august. i stock up. there's no advantage in being cheap and using stale glue on a fine furniture project, so this is a great way to use it up.