One of the first plants encountered by most visitors to UBC Botanical Garden is Magnolia 'Pegasus', which is at its peak right now. Not widely known in cultivation yet, I have the suspicion it will one day be at least a tad more common. It was one of the first two to sell out in the rare magnolia sale.
Great Plant Picks has the best factsheet on the web for Magnolia 'Pegasus', including details of its origin (a possible Magnolia cylindrica and Magnolia denudata hybrid) and growing suggestions.
I took these photographs in the garden yesterday. If you're local, this will be the best weekend to visit the garden and see the most variety of magnolias in bloom.
Magnolia 'Pegasus' - USDA Z5-8, reliably hardy to Z5 and may even be hardy to Z4, flowers show remarkable resistance to frost - Great Plant Picks.
Local garden center here in Seattle area has a couple in flower right now, labeled 'Pegasus'. Will have been sold for years in past as M. cylindrica. Subsequent introductions, of the true species are also in western cultivation.