Is this thing worth a piss? Or is there something similar for a good price. I'd go used if it's heavy duty.

I need to punch 1/2"-1" holes in 3/8" and 1/4" on a regular basis.
http://cgi.ebay.com/iron-worker-hydraulic-metal-punch-10-ton-HD-NEW_W0QQitemZ260295645214QQcmdZViewItem?hash=item2 60295645214&_trkparms=72%3A1222%7C39%3A1%7C66%3A2%7C65%3A12%7C 240%3A1318&_trksid=p3286.c0.m14

1" hole in 3/8" with only 10 tons.... I don't think that's going to happen from the charts I remember.

http://www.iron-workers.com/punch_tonnage_charts.html

Yea, 10 tons won't get much done.

why does it have to be a punch?

It doesn't have to be. Drilling 'em has taken way to long.

I did just get a 1" annular cutter bit that I've yet to try out.
Mainly I was just curious if anybody had luck with something like this.

You can get a Mag Drill and annular/rotabroach cutters that will get the job done for about $600-1000. If you hunt around, every once in a while a Hougen-Ogura portable punch will show up in the <$1500 range.

Here's the punches I'm talking about ->
http://www.hougen.com/punch_pro/punch_pro_index.html
You can bring the punch to the work instead of vice-versa.

You can get a Mag Drill and annular/rotabroach cutters that will get the job done for about $600-1000. If you hunt around, every once in a while a Hougen-Ogura portable punch will show up in the <$1500 range.

Here's the punches I'm talking about ->
http://www.hougen.com/punch_pro/punch_pro_index.html
You can bring the punch to the work instead of vice-versa.
thats a preaty cool design.

Call haugen they will hook you up with an adapter that mounts in place of your drill chuck. I have been using this setup for several years with very good success.