Steve,
A guy who was selling his last pack of Wonder Wads for like 50 bucks, so he could post his way of making your own, says to go to Harbor Freight for a set of 6 or 9 hollow punches. Set of 6 for 2.99, set of 9 for 5.99.
I don't know how good they are, but for the price, 'specially the 6 pack, which says "Lifetime Guaranteed.", how can you go wrong? If they break, you're out 3 bucks and shipping.
Here are the links:
http://www.harborfreight.com/cpi/ctaf/Displayitem.taf?itemnumber=2580
http://www.harborfreight.com/cpi/ctaf/Displayitem.taf?itemnumber=3838
If anybody is interested, I saved his tirade as a document. I could e-mail to you. He uses weather stripping and Murphy's Oil Soap.
A warning to those buying weather stripping. I bought a roll at Home Depot, real "felt", and it is, but it's plastic based felt. About a buck and a 1/4.
First thing I got home, snipped a piece off, lit it. Burned like a styrofoam cup, smelled like heck, NOT like when your Zippo flares up and singes your nose hair.
Mike, I think it was you who said he couldn't find any of the wads after shooting? I'm not second guessin' ya, but could the stuff you're using be fake felt, and completely be burnt up? I don't know, mebbe real wool would, too.
Try burnin' a little scrap of it and see if it smells like hair or like plastic.
I have half a yard or so in the garage, but it's 1/4 inch thick. Think I am gonna go flea marketing and see if I can buy up old hats, if they're marked real wool felt. They're like 1/16 inch hard felt.
Cheers,
George