My own has a front and back hard cover, taken from a large vintage book and embellished. I wanted a sturdy cover for my own, and also wanted to bind it with rings, so it would be easy to flip through. I tied a bundle of soft ribbons to the top ring to soften the look.
When I bind a book, I first punch the holes in the top cover. Next, I line each page up, one by one, with the top cover, and draw a dot of ink onto the page through the punched holes of the cover.
Usually that works pretty well for making all the holes even.