As someone who uses perl2exe let me throw in my two cents..
I create perl programs that work as simple helper apps to some of our internal Windows software. These scripts I compile into an exe format to keep from having to install Perl on every workstation who may need to use it, then having to keep everyone up to date with the perl versions and modules. It is not a matter of 'hiding' the source code as much as it making the program easier to access.
SO for me it's a matter of keeping my administration overhead low

On your second note about not being able to hide the internals I agree fully and I don't use the complier to 'secure' anything

On the idea of this project I would love to see it happen. I can't do much to help other than test (I'm not that great of programmer). From a user perspective I have found the EXEs created by perl2exe tend to be quite large in file size and it would be nice to see smaller exes

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