The LED Par 64 and the LED Punch Pro are very similar. The Punch Pro is more of a "general wash" type fixture, designed to cover a larger area, but probably with a "weaker" overall wash. The LED Par 64's are more directional and focussed.
Personally, I am right now getting 8 of the black Par 64 Pro's. I may later on get the Punch Pro's as well to augment/replace my Color Fusions.