If you can give up some functionality, there is "microperl". Google for microperl, and read the Install instructions.....search the Perl source distribution for "microperl", there are detailed steps to make it. There is (was) also miniperl, that had a bit more functionality.
Actually I was thinking that microperl could be a basis for a limited web-browser plugin.
Thanks. I don't think microperl, or even miniperl, is going to cut it. As I said, we use a lot of CPAN code, and that includes plenty of XS modules.
Also, to answer an early question, there is actually enough code for that to be an issue: > 45MB.