Benzaldehyde does indeed reek like the magical cherry kingdom. It is the simplest aromatic aldehyde. Truthfully, I doubt it is used much in fragrance because it would not be a sustained note through the course of a fragrance's development. In the laboratory, when I open a bottle of benzaldehyde and then come back to it several days later, one may notice a white crust on the inside of the cap and rim of the bottle. It is very sensitive to oxidation: it will oxidize to benzoic acid (which is practically odourless, and much less irritating on the skin than the aldehyde). Putting some on my skin, I will smell quite cherry-like for some minutes, but it quickly fades and my skin will taste sour from the benzoic acid produced (benzoic acid, and benzoates are food preservatives).
One correction Asha, I should mention that heliotropin and benzaldehyde are not
the same thing. Both are aromatic aldehydes, but heliotropin is commonly known as piperonal (it was isolated from piperine, the same material that is present in black pepper extract and oleoresin). It's being phased out by IFRA for several reasons, most of them political :-/ Heliotrope has a very vanillic, cherry, and yet spicy odor that has a rootbeer tinge to it. Givenchy Pi has a heliotrope note to it.