Cream butter in a large mixing bowl; gradually add sugar, beating until light and fluffy. Add eggs, milk, and vanilla, beating well.
Combine flour, baking powder, soda, and salt in a medium mixing bowl; sift 3 times. Add to creamed mixture, stirring well; stir in pecans, dates, and chopped cherries, mixing well. Cover and refrigerate overnight.
Shape dough into 1-inch balls, and roll in crushed cereal. Place 2 inches apart on lightly greased cookie sheets; flatten each ball slightly with the bottom of a glass. Place a cherry quarter on top of each cookie. Bake at 375° for 8 to 10 minutes or until lightly browned. Remove from cookie sheets, and cool on wire racks.