is by far slower than Storable
because it endeavors to dump data structures in human- and perl-readable form, it does offer an advantage in that if you are freezing the structures to a database and/or flat file and the data structure becomes corrupted for some reason, you can visually reconstruct them.
This is not a hypothetical case. I have been involved in two such situations, once because one of the Oracle datatypes likes to strip trailing whitespace from a string. A very obscure but, in this case, important piece of information that was not discovered until code was pushed to the production environment.