You might want to ask yourself why this is; I find that invariably as a system I am working on grows I end up needing a LOOP or IF construct in the templates -- and I think the prevelance of these two constructs in templating engines perhaps shows that I am not alone. Basically what you are proposing is to simply drop functionality from an existing templating system. What does this gain you over simply not using those options? If the answer is nothing, then there is no real need for this "new" templating system.

Of course developing for the learning experience is always an option, but I don't think CPAN needs YATS ( Yet Another Templating System ).