I found this in CPAN, and a similar script in ActiveState (reloc_perl):

It does a binary edit, as you said...

Can't link homedir -- don't have root on server

The -Duserelocatableinc option is interesting... have to think about how to best use relative paths in @INC.
Probably can just use a wrapper to set the calling directory...

I think I'll just recompile everything...
probably easier in the long run!

thanks,
-Cadphile