I got a new toy, it's called a Cinch, and it really is fun.
Yes it's a very big hole punch, great for making mini books,
I was in Tesco's and saw they had a book made with a bind-it-all wire, so had to come home and have a go. Here is my first attempt and it won't be my last, as I love how the book looks, it's so tidy on the outside, and I have loads of double sided papers I can use.
If you look in the photo it couldn't be easier to make.
Fold a card in half, and punch the holes along that fold, then score the spine on each side. Mine was 1/2" from centre fold.
Add your pages onto the bind it all wire, then add you cover.
You need the cover to be folded in half so you can see the inside front cover, this sits next to your pages, just like you normally would then cinch it, when you fold the back cover over it creates a book jacket with the wires showing at the spine.
Will post when I have made one with pretty pages.