Punching holes and setting eyelets are a great way to enhance scrapbook pages and cards alike. I used to use Fiskars eyelet setters which have a built-in spring hammer, but found these quite noisy and not that easy to hold.
Then I found the Crop-A-Dile II (Big Bite) by We R Memory Keepers. This great gadget, while larger than it's original form, has an amazing 6" reach so you can punch and set right in the centre of 12"x12" scrapbook pages.
It has two hole size punches which can easily punch through paper, chipboard, leather, fabric, plastic and thin tin. The setter has four different settings for small and large eyelets, plus snaps and gromlets, which many basic eyelet setters cannot do.
If you are just starting with using eyelets, I would definitely recommend this product as being well worth the money.
Product video on YouTube