... the last statement evaluated is the conditional...
do{}; blocks can be thought of as immediate-execution subroutines, with implicit(-only) return values.

These two things in particular cleared things up for me very well, thank you very much! The second one also clears up why an empty do{} returns undef or the empty list depending on context. Although now I can't help but wonder where that is documented, if at all...?

In reply to Re^2: return value of "if" (documentation?) by Anonymous Monk
in thread return value of "if" (documentation?) by Anonymous Monk

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