The big difference you'll see between cheap and less cheap punches is that, the more expensive ones are one solid cylinder of metal, with no overlapping or welding. These are the best because they will cut more precisely every time. They also will stay sharper longer. Punches that are a piece of metal wrapped around itself in a circle have an overlap, and this part of the punch tends to be the dullest. I would spring for the more expensive punch, in fact, buy either the Colibri Tri-Cutta lighter (has three different punch sizes) or the Colibri Deuce (a punch and guillotine in one). That way, you only have to carry one accessory. Anyway, don't skimp on a punch if you're a punch fan, get one that is a solid cast piece of metal.