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I work in a law firm and use this punch on a regular basis. I purchased this item at the end of 2010 and thus far have had no problems.
The instructions say that it will punch 24 sheets of unstapled paper. I find that this is perfectly true. Luckily, it can only fit around 24 pieces in the slot for punch so I've only had the punch jam twice (when I somehow managed to get a few extra sheets in there). While not perfectly silent, it's not the loudest model I have worked with and it is minimally distracting in a work environment. Often, the sound it makes almost seems as if the punch is straining which caused some alarm the first few times I used it. I've since found that while it happens pretty regularly, there has never been any jams or problems associated with the device when this happens.
There is a manual switch at the top if you wish to go from three hole punch to two hole punch. Beware that when you two hole punch, you are NOT aligning the paper with the edge of the device. Instead, there is a line painted partway down the slot to which you would align your paper. While I do not find this to be a huge problem, it does render a few tiny inconsistencies in where the holes a place due to human error.
The holes for either setting are set quite close to the edge of the paper, similar to the location of holes for pre-punched paper. This is not as far in as a manual punch would make them but I find this to be of benefit as that there are more documents I can punch without taking out vital pieces of text.
Also, beware punching stapled documents. This machine is easily powerful enough to go through the staples themselves, which I can imagine will prematurely dull the punches.
Two times I have had the device act as if it was not working. The power switch was on, it was plugged in and I would push the button with no answering motion or sound. While I am still not certain why the problem occurs, I found that moving the punch to a more stable, flat surface would often fix the issue.
Overall, I find it to be a great device. I wish it punched more papers but for the price and the flexibility, I really cannot complain.
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