The vice grip tool I made works well, and you can control the depth of the divet as well.
The punch thing would be alot of trouble IMO, unless you used heat and had a helper back up with a dolly.
I will post some pics later today of a Nova I did it on.
The lips gad been cut slightly

for tire clearance and some of the original spots were gone.
Also the vice grip tool upsets the metal on the inside and it fells alot like the originals.
I have noticed on differant cars that sometimes the welds are shallow and somewhat smooth, others are vwry deep and even tend to distort the metal. These were not robot welds as far as I know. So they will verry from car to car.
Later Mike