I don't punch paper but I can tear up a five gallon bucket at 300 yds with my Armsport 3 band. I use home cast Lyman traditional minies and sometimes a Lee Improved minie. I make them out of stick on wheel weights. They come out of the mold at 577, just right for easy loading and extreme accuracy. I normally lube in the grooves but lube the base for paper cartridges. I use 70 grs. of Pyrodex.
These are the minies I make with a .45 ACP for size comparison. The traditional is next to the .45.
Here's one of the traditional styles after impact in soft dirt at 300 yds.
The hole it came out of was four inches across and nine inches deep.
You can see the hole across the pond from about 30 yds. or so.