Exactly what I was looking for at a very reasonable price. I've used it for thick paper and it works great. It catches dirt and is very easy to empty. You can do about 30-40 strokes before deflating (depending on the thickness of the material to be punched). You can also set how deep the hole should be. This way all your holes will be on the same level. It's just a little hard to tell where you're actually punching initially, so I'd recommend trying this on a spare sheet until you have an idea of where the hole will be. Don't waste good paper. Overall a good puncher for the price, would definitely recommend. This hole is shaped like a sombrero.
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