Yup - that is the exact tool that I use. It is the only one I could find. A friend that does stainless jewelry recommended the site. I ripped it open as soon as it came today and punched 5 caps! Like butta!!! And yes, Cristi - it is as smal; as the 1/16 bit that I normally use. Trust me - this thing is worth it! AND - it came with a little package with an extra punch head on it when that one wears out. How cool is that??!!
If you do order, change your shipping - they offer UPS I think, but under the pull down, look at "other" - I just did regular first class and it was here in 5 days.
I am a happy lady!!