I'm an art director and head designer at a toy company. I deal with printers on a daily basis.
IMO magenta is becoming the "traditional" color for printers. When I have a die line created it always comes in that color from the printers, so I use the same when I create something myself. Of the 5 print companies I use, and the countless factories that print our hang tags, they all prefer magenta. The only time I would suggest straying from this would be if your product is loaded with magenta already, then use another color that "doesn't belong."
I also agree with the other person who stated that if you weren't familiar with paper engineering to have the printer make you a die line. Ive been doing my job for awhile now and even I still have a die maker do my box lines, I just don't trust myself, lol.