Bill,
"What would it take to really puncture the surface?" Not much. In fact it can develop small holes at the ends of seams or pull points because the only thing holding the yarns in alignment are the thin films on each side. These holes will not become tears and are easily repaired with a small tape and Cuben patch.
"What about a ballpoint pen? What about a pocket knife?" A ballpoint will poke through without much trouble, but a knife is the real danger. The Spectra yarns are too tough to cut with scissors, but a knife will go right through. In fact I use razor knives to cut Cuben for projects. If that seems contradictory, remember that the films hold the yarns so they cannot shift easily. All the force of the knife edge is concentrated and that is more than the Spectra can take.
"can you compare its strength to some other standard material that we would know (e.g. men's cotton handkerchief)." Even with the caveats above. Cuben is lightyears stronger than a pocket handkerchief. I would guess that the bursting, snag tear and tongue-tear strengths are at least as high as 8 ounce Oxford nylon pack cloth (coated) or 10 ounce Cordura (coated), although I have done only informal tests.
What you did not ask about: abrasion resistance. Zilch. The films are rather delicate. Very rough rock can violate the films on both sides, but (this is important) will not immediately cut the Spectra yarns. However, it is possible to snag the yarns. Since they are so strong, they can start to pull out before breaking. I would keep it off rotten granite.
We can hope that someday soon a mill will combine fine yarns of Spectra with something like 10 or 20 D polyester and impregnate it with silicone. Now that would be just about the best.