I have the same problem with the puffiness. It won't be a cure-all, but it hides it a lot better and stays on a lot better than anything else I've tried. The illuminating one also helps deflect a little bit of it away as well. Make sure you apply it in a triangle -- that seems to help a lot.
This concealer is AMAZING!!! If this doesn't do the job for you I would be exceptionally surprised. It feels a little thick, but a little bit goes a long way and does an unbelievable job of covering anything you don't want anyone to see! Plus you can't beat the fact that it's anti-aging!!! BONUS!!!
It will help with the dark circles, but it won't do anything for the puffiness. Just remember that a little bit goes a very very long way, or you will cake it on and it will crease if you have too much!
I tried this product and didn't like it. It's VERY thick and sticky and it seems like putting powder over it made it worse. The shade range in it isn't great either. Over all I went back to my urban decay naked concealer.