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 Rivet Head Drilling Tool

Testing the Flat Bending Die Set on a punch press
This isn't a real world application since there aren't high pressure springs for the pressure plate, but it shows that this could be used in a punch press.  The only real difference is that it takes one trip of the air clutch to bend instead of using the hydraulics of a shop press.  Due to the machined radius on each edge of the lower die the pressure is reduced for bending and can be done without walking the ram back and forth on the punch.
If you need a high volume setup it can be done, but it will take much more material as well as special techniques to be able to put one flat in the press after the other without using any bolts.

Spot Welding Video
Barrel Pin and Barrel Removal