Yeah I almost picked up an ironworker for cheap, but couldn't make the drive to Seattle for it. Shears tend to distort the metal a bit, especially the Beverly if you can't hold it firm enough, been meaning to make a clamp for mine.
I love the Whitney hole punches though, the 20 will do a 1/2" hole through 1/2" plate. My model 40 can go up to 1" holes through 3/8" plate and has a decent throat, sure beats a hole saw.
I've got a few 20's, want to make a rotating cube table to hold 4 of them, each loaded with a different side so I can just spin it to the size I need and punch the hole. The little slugs they make can come in handy too.