I have the socket and it is quite handy. A cheap one from the auto parts store for some make/model 4x4 front spindle nut will fit perfect, just take a nut in to match.
I've used the punch method a lot of times and it always somewhat bungs up the nut. The socket is a good investment, cheaper than a new set of nuts. If suggested by the service manual to torque the nut so much and back off you can actually do that with the socket, not a punch.