I think this is a great two hole punch. I have been using it daily in an office setting for over seven years. It now needs to be replaced as one of the posts that punch the whole has shifted out of position. I think seven years is pretty good value for the money.
We have bought several of these 2-hole punches. They work great for a while but before long every single one of them has jammed irreparably. The spring gets bent somehow and grabs one of the punchers. We've been unable to ever fix it once this happens.
I have worn out the punch used for many many years in our mortgage office due to sometimes overloading. If I could find replacement parts I might fix it but for the price I will just buy another. This is perfect for the stated use though I find 28 sheets is a bit hard on it if done frequently. I have found that one must manually align the papers properly to get the proper cut. It is a great basic tool that assumes common sense on the part of the user.