Hm,
this is strange. I've been reading the PM for a good time now and have always admired many of those obfuscated code snippets. But it never came to me, how those were done and how to work such a thing out. Then suddenly this morning my first JAPH sprang into my mind and one hour later I got this: (ok, it's not like erudils work, but it's a start ;-)
#! /usr/bin/perl -w use strict; $_='sub justify{ $_ = __;s:if::g; s:y: :;$_;}sub the {$_=__."r ";s=^=ano=;$_;}sub pearls{$_=__." "; s-[as]--g;$_} print justify, the, pearls, "hacker\n"'; eval();sub __{$_="baaa";$_=(caller(s/b//))[s/a//g];s=[^:]+::==g;$_;}
I tried to find a nicer formatting but I coundn't find anything, so that's left for the next lessons I'll take :).

Regards... Stefan
you begin bashing the string with a +42 regexp of confusion