yeah, the ek punch is just a decorative edge. I have the cinch (we r memory keepers) and I like it. You don't have to measure; everything is right on the base. I like the tab that holds everything in place if you need to make a bigger page. I also like that you can turn holes on and off. There is a binding holder on the side and a knob that adjusts to the size of the wires. I put a mark on mine so I get a perfect binding every time. Some people complained about the size...I like that it is big. It fits nicely on my shelving. Oh it has a clip on the side for carrying.
A few weeks back there was I guess you can say a debate if cinch was better than bind it all or vice versa. I guess it boils down to preference. Hope this helps.