Fruit trees from compost are like a box of chocolates, you never know what you're gonna get.
The general advice is that growing seeds from food you've eaten is usually not worth the effort, but my opinion is that you've got the space to grow them it can be an interesting experiment. At the very least, you've satisfied one of Hemingway's
four tasks. The odds are more in your favor if the seed happens to be from something fairly local (e.g., a farmers market) as opposed to something from a completely different growing environment.
As SweatingInFL mentioned, if you want you can graft them the trees over to known variety. If they are plum cherries, you've got a lot of options because members of the
prunus genus (plums, peaches, apricots, cherries, almonds) are often compatible with each other. If you're in the USA, the north american scion exchange group on Facebook is where I usually get scion wood
https://www.facebook.com/groups/scionexchange, but there are also groups dedicated to specific types of fruit and trading happens there too. January to March/April is the trading time, so don't both asking now.
As Dreamer40 mentioned, the "knee-high cut" is pretty standard for commercial production for many types of trees and is particualarly good when you want to train the tree to an
open center style which is used for most
prunus/stone fruit.