Hooray! I have finally pressed saw teeth. This practice is with 18 gauge scrap bandsaw steel and from some softer stainless steel scrap. Whilst neither pitch nor tooth shape are yet consistent it is definite proof of concept. So with a suitable indexing and alignment device I could punch pit and peg tooth saws.
teeth approx 25 mm apart 
teeth approx 18 mm apart
punch and die aligned and firmly anchored 
soft stainless steel scrap
Because it is softer, I first selected a piece of stainless steel scrap. My alignment of the strip was not consistent. The only fixing device is my hand. But as the first downward movement of the punch forms a bulge of stretched metal it aligns with & tends to anchor the work in the die. After about 3 swings of the ball-arm, the gullet would sever and drop.
I decided to use some cutting compound on the mating surfaces of punch & die – I think it helped the action.
According to the angle I offer the work, I get either rip or crosscut teeth.
align work square for crosscut teeth 
align work diagonally for rip teeth
If you feel like doing this yourself, you need a decent table fabricated and bolted to the floor. A beefy press is a must. I am told this is approx a 5 ton press and weighs about 200 kg. Two men can lift it using the wooden rod seen in the photo.