when I use perl -MO=Concise test.pl, I get:

  if ($x1)
  {
    if ($x2)
    {
      print "here\n";
    }
  }

  a  <@> leave[1 ref] vKP/REFC ->(end)
  1     <0> enter ->2
  2     <;> nextstate(main 5 if.pl:1) v ->3
  -     <1> null vK/1 ->a
  4        <|> and(other->5) vK/1 ->a
  -           <1> ex-rv2sv sK/1 ->4
  3              <#> gvsv[*x1] s ->4
  -           <@> scope vK ->-
  -              <0> ex-nextstate v ->5
  -              <1> null vK/1 ->-
  6                 <|> and(other->7) vK/1 ->a
  -                    <1> ex-rv2sv sK/1 ->6
  5                       <#> gvsv[*x2] s ->6
  -                    <@> scope vK ->-
  -                       <0> ex-nextstate v ->7
  9                       <@> print vK ->a
  7                          <0> pushmark s ->8
  8                          <$> const[PV "here\n"] s ->9
[download]

And then the more concise:

  if ($x1 && $x2)
  {
    print "here\n";
  }

  a  <@> leave[1 ref] vKP/REFC ->(end)
  1     <0> enter ->2
  2     <;> nextstate(main 3 if.pl:1) v ->3
  -     <1> null vK/1 ->a
  6        <|> and(other->7) vK/1 ->a
  -           <1> null sK/1 ->6
  4              <|> and(other->5) sK/1 ->6
  -                 <1> ex-rv2sv sK/1 ->4
  3                    <#> gvsv[*x1] s ->4
  -                 <1> ex-rv2sv sK/1 ->-
  5                    <#> gvsv[*x2] s ->6
  -           <@> scope vK ->-
  -              <0> ex-nextstate v ->7
  9              <@> print vK ->a
  7                 <0> pushmark s ->8
  8                 <$> const[PV "here\n"] s ->9
[download]

...and if I have ignored the optimized-out ops properly, they are identical.