So far as I can tell, regsvr32 only has a GUI interface, it does not appear to write anything to stdout, so using `backticks` will not help - might as well use system instead. A well-behaved program will return non-zero on error, however I cannot find the return value of this program documented.

Your alternatives are to drive the GUI using something like Win32:GuiTest. Alternatively, find out which registry keys are being updated by the regsvr32 program and do it yourself using one of the Win32 Registry modules, probably Win32::TieRegistry. The later would be my choice.