Prunus serrula - Tibetan Cherry - not to be confused with Prunus serrulata - the Japanese Cherry.
You are right, it is not often seen as bonsai. I'm in zone 5b near Chicago, half way to Milwaukee, you don't see them around my area as landscape plants either. Just looking at the wikipedia page, they suggest it is fairly susceptible to fire blight and a number of other diseases. In addition, while Wikipedia says it is hardy through zone 5, I would not expect it to be hardy north of zone 6.
But I have never tried to grow one. I am just speculating. Anyone with real world experience with this species want to comment?