You didn't mention it, but there is a third option, instead of "install Perl 5.8 as non-root under my home directory?". Continue to use the Perl 5.8 on the second machine and make your own personal library of extra modules that you need. I did this a couple of months ago. I started with don't have permission?. And wound up doing things a bit differently as described at: deviations to cpan installation in the tutorial.

It is possible to install Perl 5.10 as a user (I've had more than one Perl version on my Windows machine before). This was more complicated than copying a directory. I did the installation process.