As I mentioned on the Bullseye forum, Star also made flat punches for nose first sizing. They came out with the flat punch much later, but they did offer them, and I have a number of original Star flat punches for nose first sizing.
There has been a lot of discussion on this topic in various fourms that discuss cast bullets (It was a recent topic on Cast Boolets
http://www.castboolits.gunloads.com/index.php? )
Like everything else, everyone has an opionion based on what works for them. I have used them both extensively, both work very well provided you have a nose punch that matches the nose exactly, or a flat punch that is reasonably close to the size of the sized bullet. If you are trying to do too much sizing (more than .002) in one step, you can deform bullets with either method.
Pesonally, I like nose first sizing because its a little faster, and I don't see a downside. Now Faisal, I'm not quit as good a shot as you, but I don't think its my bullets. Mine will hold less than two inches at 50 yards from a Ransom Rest. I have some gas check 38s that I think will do better than that. They give me a 1/2" group at 25 yards out of my 686. Haven't tested them at 50 yards yet. I nose first size them as well, and put the gas check on while sizing them nose first.