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[14:28:20.34] c:\test>\Perl510\bin\perl5.10.0.exe 688308.pl -loops=1e2
              Rate     reverse substr_copy       subst substr_lval  su
+bstr_mod
...
subst        168/s       2767%        536%          --         -3%    
+    -46%
substr_lval  173/s       2862%        558%          3%          --    
+    -44%
substr_mod   309/s       5191%       1075%         85%         79%    
+      --

>\Perl510\bin\perl5.10.0.exe -MDevel::Peek -wle"
    $x = 'fred'; Dump( $x ); 
...
  PV = 0x18305ed ( "f" . ) "red"\0
  CUR = 3
  LEN = 7