Definitely get yourself a leather punch for the job…the awl on the SAK is a tool for expedient uses and not a very good one at that. The awls found on true “Harness Jacks” are much better designed but they still are for emergency repairs like a broken strap or belt (originally designed for quick fixes to “tack” when horses were the normal mode of transportation). The awl is to be twisted to cut the hole and it works best on a flat surface (otherwise you have to hold the leather really taught. With your saddle, you will have to hold edge to keep taught while trying to cut hole with awl (same issue with a drill). A leather punch is just so easy to use as you don’t have to keep leather taught and cuts such clean holes it really is the only way to go.