Depends on the RG for me, I punch for 50 and up, cut for smaller RG's...
I tend to use a cheapie punch that I received from Taboo ages ago (when they were givin' away stuff with orders).
I carry both a Palio and Xikar X2, and use whichever happens to be handy. I do like and use the Palio if I need to set a stick down, cuz they are designed to keep your stick in place, while doing something else briefly.
I also use some giveaway steel cutters, that Drew Estates used to give away, but they can't be used for a Torpedo, as they only cut about 1/16" off the end. I call these my "beginner's cutters"...
