Well, the applications are a bit different for the 64 LED Pro and the Punch Pro.
Do they use the same LED's? Yes they do.
Also, please double check the online specs and manuals. Both of these use dedicated color LED's, not tri-color. See what your ratios are between Red, Green and Blue LED's.
The Punch Pro is more of a "general wash light", where the 64 LED Pro is more of a "near like for like" replacement for traditional ParCans. While still a wash light, it's more of a beam so it's restricting itself to a smaller area.
It's really all in your application. Since the Punch Pro is a general wash, you get less focussed light over a larger area, which in the end means a dimmer overall wash of color. This is of course more evident the further back you are from the fixture. Not a bad thing by any means.
You are somewhat right in that you won't need gels for the Punch Pros. This is not as true for the 64 LED Pros. I'm contemplating getting the gel sheets for those just to help "sharpen" the beam a bit, but for now it's fine. You wouldn't want to do that with a general wash fixture.
Hit my web site and contact me. I'll hook you up with an authorized ADJ dealer. I've bought MyDMDX, 8 64 LED Pros, 4 LTS-2 stands and just recently an Elation OptoBranch4 distro/repeater, plus over 600 feet of Accucable. He might be able to get some killer pricing to you.
I'd say if general wash is what you're after, I bet the Punch Pros are gonna be the better way to go. If you want more focus, then the 64 LED Pros would be the better bet. It may be more beneficial to start with the Punch Pros and then add in other LED fixtures later on as budget and needs dictate.
If it's just a pricing thing, hmmm, maybe I should speed up when I'm going to order some Punch Pros and how many. Maybe I need 4 of these guys so I can not need my Color Fusions as often. In my application, I'd be using the Punch Pros for the front wash overhead off my truss, and then use the 64 LED Pros to "punch through" and hit the drummer and backline stuff.
For my even this Saturday. I'm using the 64 LED Pros for mid-stage wash, my Color Fusions for front stage wash, and my Chauvet Intimidator Colors for hitting the rear of the stage. My 2 spots will provide additional front illumination and my movers will help provide off-stage amusement. I just hope I have time to run it all. I've got a huge hard working crew, but they lack technical experience. They'll get the gear in on time, and I know they'll do what they can do. And they learn fast. I love working the Sac Horror Film Fest shows!