I'd go for the second option every time. Helps me not primarily with readability, but with think-ability (always at a premium, I find) and debugging.

do_stuff_hide_the_details();
do_other_unrelated_stuff();


sub do_stuff_hide_the_details {
    do_specific_thing(@these_params);
    do_specific_thing(@those_params);
}

sub do_specific_thing {
    #fiddle about with details
}
[download]

iyswim! ;)

cheers,
andy.