I did this with a .357 and it worked well.
I have a xikar punch on my key chain I use when I don't have a guillotine. But I prefer the guillotine.
As for guillotines, my xikar is nice looking but I still get the best cuts out of the cheap-o's you can pick up at the register of any cigar shop. The blades are thin and sharp making for a clean cut. I've had my xikar pinch cigars. I attribute it to the twin blades being so thick and not because it has gotten dull. I drop it all the time and am on my 4th or 5th due to the great warranty they come with.
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