The other day I was getting frustrated. I wanted to create a card with a see-through window in the middle of the front panel. However, my punches only allow me to cut a hole near the edge of a paper, so I ended up having to hand-cut (and badly, IMHO) a hole for the background image to peek through.
Then I came across this tool at Michael's... not in the scrapbooking section, where hole cutters can run nearly $ 37. I found this doohicky in the art section; for a mere $ 6. It has six spare blades (which are very sharp), and two pencil nibs for drawing instead of cutting, circles of various sizes.
So of course, I had to try it out:
And am most pleased with how it works! So let that be a lesson; you can find lots of things OUTSIDE the scrapbooking section too.