I also thought about making a cheap personal punch that would
produce single copies perhaps very slowly. I considered the recycling
of and old computer printer but soon realized the chance of success was
rather slim.  Roll punching has to be done quite accurately to be
worthwhile and punching holes in paper cleanly is not a trivial task.
Dies have to be sharp and driven with adequate power. A machine made
for printing on paper is not designed for this service unless it is an
industrial model and would still require extensive modification.
Perhaps the most important aspect of roll punching is the alignment of
the note holes with the paper edges and this can only be acomplished by
trimming the edges to match the punching or by accurate tracking while
punching. I know from the printing that I have done that this does not
happen by itself. Also where does one buy 11.25 " paper ready made? The
only way I can think of doing this would be to print the roll with ink
on a tractor fed paper and turn the dots into holes later.  Would an
industrial power laser heat the dark areas and burn them out or would
it just vaporize the ink. Any opinions on this possibility?