I am working on making a bunch of GPS tracking collars for cattle, and I realized that my economy punches and cutters weren't going to cut it when I start making 30 collars from heavy duty Latigo. I invested in some Weaver Master Tool brand Strap end cutter and Oblong punch. They are kind of pricey, but they were sharp out of the box, saved me a ton of time, and remained sharp even after using the tools to make 30 strap ends in 13 ounce leather.
Very impressed with the 1 1'2" english point strap cutter. One whack with the maul, and I had a quick/clean end.
and the oblong punch usually took two light smacks to get through the thick leather.