In a large saucepan over medium-high heat, bring wine and balsamic vinegar to a boil. Tie the cloves, peppercorns, and bay leaf in a bundle with a small piece of cheese cloth. Add the spice bundle to the wine mixture; continue boiling approximately 15 minutes or until mixture is reduced to 3/4 cup. While the wine mixture is reducing, cut the cherries into quarters. Remove the spice bundle from the sauce and discard. Add the cherries to the wine reduction, reduce heat to low, cover and cook approximately 10 minutes or until the cherries are tender. Season with salt and pepper and stir in the chutney and the butter. Keep Cabernet-Cherry Sauce room temperature until steaks are cooked. Just before serving remove sauce to a sauce bowl and sprinkle cheese into sauce, stirring very lightly. Serve over steaks, it's so delicious!!