I did not vote because I do not have a need for something like this. About the closest I can think of what I'd vote would be that I would need more information. However, if I did punch holes a lot and found that a tool like this would really make the job easier, I think price would definitely not be much of a deciding factor -- unless it was really expensive, like $150+; then, it seems it would mainly be a matter of whether or not you would use it often enough. Basically, if the tool would be really useful (it sounds like it is in your situation), I'd say the high price for a good quality product made in USA is probably well worth it.
Also, has anyone ever seen or tried the C.S. Osborne self-centering punch set? It looks like the self-centering point would help in the situation of centering the punch over an awl mark, anyway. . .
Heh, that sounds like regular Tandy quality! Far too many of their products are manufactured in China/Taiwan, IMO. I would guess that your rotary punch is made in Taiwan. . . And it still probably cost you ~$50. I would recommend that everyone stop buying these imported products -- absolutely regardless of the price.
I'm really not certain of the quality of either -- or even where they are made --, but maybe you check out the C.S. Osborne TL155 revolving punch or perhaps the Vergez Blanchard VB3.7731 & BIS revolving punch, both sold by Siegel of California.
Wow, it sounds like this is a somewhat common problem. . . Yeah, Pete, maybe you can get TLF to at least give you a workable tool (though, unfortunately, still imported from China/Tawian).
L'Bum