Just found this on the Shack

In case anybody reading this isn't in the Shack (Marge, Debi, Joan?) or just happened to miss this post, this is the coolest idea using the slit punch. I'm buying the slit punch on Friday. Gonna have to try this.
http://littlepinkflowers.typepad.com/little_pink_flowers/2007/01/scalloped_edges.html

By the way, check out the rest of her blog. Coolest stuff. LOVE LOVE LOVE the Bellas!!