So I am new to punching. Have never done it before. I have been doing some reading and I see you can jigs already made for punching OR you can buy it all separate and basically do it yourself. What are the pros/cons of each method?

The Eye-Max Jigs are the most effective grass jig made!

Depends what you are punching. If regular heavy cover and small mats go with the jig. Anything over an ounce just use a tungsten weight

Pros jig

Inexpensive

Great hook up percentage 

Swimm well 

Versatile 

Cons jig

Bulky lead

Not as weed resistant 

Can be less efficient in heavy or slimy mats

Pros punch rig

Efficiency

Very resistant to slimy mats 

Requires less weight to punch grass 

Cons punch rig

Expensive 

Don't swim as well

Less versatility 

Not as good hookups 

Trailers dont last as long

Annoying to re rig 

Hope thus helps