ENVIRONMENT
Version information for perl is:
# perl --version
This is perl, v5.8.0 built for i386-linux-thread-multi
(with 1 registered patch, see perl -V for more detail)

PROBLEM(S)
Problem 1)
# perl -w Makefile.PL
fails to find the posix4 library (see "Checking for -lposix4...NOT found." in output below)
Output
Configuring Time::HiRes...
Checking for libraries...
Checking for -lposix4... NOT found.
You have no applicable extra libraries.
Looking for gettimeofday()... found.
Looking for setitimer()... found.
Looking for getitimer()... found.
You have interval timers (both setitimer and setitimer).
Looking for ualarm()... found.
Looking for usleep()... found.
Looking for nanosleep()... found.
You can mix subsecond sleeps with signals.
Use of uninitialized value in join or string at /usr/lib/perl5/5.8.0/ExtUtils/MM_Unix.pm line 3800.
Writing Makefile for Time::HiRes
Now you may issue 'make'.  Do not forget also 'make test'.

Problem 2)
make fails because the Makefile is improperly formed.
# make
Makefile:91: *** missing separator.  Stop.

##</code><code>##

# find . -type f -print | xargs fgrep posix
./hints/irix.pl:  $self->{CCFLAGS} =~ s/-ansiposix //;
./Changes:      - because of nanosleep we probe for -lrt and -lposix4
./Makefile.PL:    push @$LIBS, '-lposix4';