Some better punches are sharper. I have a nicer one and a really cheap one. The cheap model is not as good at cutting due to the dull blade.

As for my preference . . . itr really depends on the cigar and what the cap looks like. Smaller cigars with flatter caps get the punch because it is too hard form me to not cut too much. Larger cigars and those smaller ones with a more pronounced and rounder cap will generally get the cutter.