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Check EBay for Greenlee punches before forking out for new ones...!
Tap magic is great, but everyone has a can of wd40 about, and it will do the job fine.It cools, clears the chips and though it might not have the lubricity of tapmagic it is easier to clean up.I use wd40 when I table saw aluminum. I have cut up to 2" al plate on a table saw. Hole sawing is limited by the gullet depth on the hole saw, anything more than the gullet depth and you have to peck every few revolutions.