The multithreading of mod_perl 2.0 is certainly a great solution for Win32, but I can lend some of my trouble to your thought process.

I was unable to access many of the common Apache Perl API's in version 2.0. Things like $r->server_root_relative didn't seem to be available yet. After much effort, and very limited success, I went back to developing under apache 1.3.27 and mod_perl 1.27. The future can only be an improved API.