my %lookup = (
   \*OUT => [ \*OUT, 'STDOUT', '' ],
   \*ERR => [ \*ERR, 'STDERR', '' ],
);

MAIN_LOOP:
for (;;) {
   my @r = $r_sel->can_read();

   foreach my $fh (@r) {
      last MAIN_LOOP if eof($fh);

      my $buf_ptr = $lookup{$fh}[2];
      1 while read($fh, $$buf_ptr, $BLOCK_SIZE, length($$buf_ptr));

      print("$lookup{$fh}[1]: $1")
         while $$buf_ptr =~ s/^(.*\n)//;
   }
}

foreach my $fh (keys %lookup) {
   print("$lookup{$fh}[1]: $lookup{$fh}[2]\n")
      if length $lookup{$fh}[2];
}