I install all of my perls completely in their own directory so they don't share anything with any other perl. To do that, you just tell the Configure
script where to install everything. I like /usr/local/perls:
% ./Configure -des -Dprefix=/usr/local/perls/perl-5.x.y
When I do that for multiple versions, I get a directory that has separate installations.
% ls -1 /usr/local/perls
perl-5.10.0
perl-5.10.1
perl-5.6.2
perl-5.8.8
They all have their own bin and lib directories:
% ls -1 /usr/local/perls/perl-5.10.0
bin
lib
man
Most of the common tools will figure out what to do if you call them with different perls:
/usr/local/perls/perl-5.10.0/bin/perl /usr/local/bin/cpan
However, you can take the perl you want to use the most and put it first in your path. I just make a symlink to /usr/local/bin/perl, but you can add directories to PATH as well.