how to do these 2 effects???

http://www.kingplush.com/

The first effect that id like to know how to create is the punched paper effect and the second is the spiral notebook on the left side.
ps: im new to this kind of stuff so i need a straight forward walkthrough if anyone can help.(photoshop 7)

For the punch

1. create new layer - fill it with white
2. Cut holes in it
3. Use a drop shadow layer style on that layer

For the spiral

1. (NEW LAYER) Use a lasso or something to create the shape you want (use Select > Modifty > Smooth if you want)
2. Fill it with a gradient, (type 2 where the start ofthe grident is the centre point)
3. Lock the layer's transparency and make the sides a bit darker with a brush or something
4. You COULD play with layer styles a bit to get a shiney effect
5. Use a drop shadow layer style to get hte shaow bit OR create a layer behind the spiral and paint one on

sounds usefull and kool