Dump_log and Input_log both show that I am getting the first page of the on-screen report. It indeed IS dying on the until line. Here is the updated code: 
    until ($t->waitfor('/REPORT FINISHED/') == 1) {
        ($op1) = $t->waitfor('/PAGE/');
        print NVFILE $op1;        
        ($op2) = waitfor('/PRESS RETURN/');
        print NVFILE $op2;        
        $t->print("");
    }

[download]
Thanks!

In reply to Re^3: Net::Telnet waitfor loop by sonicscott9041
in thread Net::Telnet waitfor loop by sonicscott9041

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