Okay... so Punch apparently has two robot modes - you have the "short" robot mode (see Fig. A below) and the "tall" robot mode (Fig. B). Both seem to have official currency because:
+ The short robot mode is depicted in the box/tech specs art
+ The short robot mode is also depicted on the front cover art of the instruction booklet
+ The toy appears to be designed for the short robot mode to be the actual robot mode for Punch (as he does have flip-out feet and the legs can slide into that position); so one could argue "author's intent" with the short mode
+ The tall robot mode is how Punch is drawn in Transformers canon (e.g. cartoon model).
+ The instructions tell you to transform Punch into tall robot mode
+ The tall robot mode is more to scale with other 1987 Autobots, like the Targetmasters.
+ The short robot mode is more to scale with the earlier Autobot cars like Jazz, Bluestreak, Prowl etc. (and thus also Stepper from the '87 line).



Aesthetically speaking I prefer the look of the tall mode, but the short mode isn't bad and it does help to further differentiate Punch's robot mode from Counterpunch. So which one do you normally use for your Punch in robot mode (e.g. for display)?