Let me give you some reasons why you shoudn't update Perl: Even though there is a newer Perl version available, your modules may be more portable, especially to Mac users, if you develop and test them using the default installed version.
Say you code up some killer Perl module, and you want to share it with a friend. Or you want to put it on twenty computers on a network. What would be easier? Install your modules and the Perl scripts, or figure out how to Tarball up the old Perl, Tar up the new Perl, copy the new Perl to each computer and un-Tar it, then install your modules and scripts? If you need the new version, go and do it, but it will create a hassle down the road.
Disclaimer: I used to code Perl daily under Solaris, and I knew my way around really well and I installed and moved Perl installations like I was brushing my teeth. That was ten years ago, and I haven't used it much on OS X. While it's fundamentally the same in OS X as Solaris, maybe somebody who's intimately familiar will know exactly how to un-Tar the newest version lickety-split, like I used to. But it's still a royal pain, from a compatibility point of view. Just to make my point, note that vi is still included in every Unix distro under the sun, including OS X. Oftentimes, compatibility is more useful than having the very latest version. Perl is incredibly mature and stable; we'd run Perl scripts 24/7 without any problem under Perl version 4.x. It won't matter whether you use version 5.10 or 5.14.
FWIW, my Lion install has Perl 5.12.3.