The 40th Anniversary 6-Inch figures will not come 'unpunched'. All Vintage-style carded figures are going to be pre-punched. This was confirmed by Hasbro's Joe Ninivaggi during our Q&A.
Update: There seems to be some confusion in our comments. These figures will not have a perferated punch in them for someone to 'punch' out. They will likely be factory punched. So, there will be no versions available that have a punch in them. We'll know for sure when we get our first orders (if it's die cut or actually punched).