It's a good idea. Unfortunately, CGI::Cookie requires CGI, which slows the script down massively. CGI::Simple::Cookie is measurably slower than CGI_Lite at this. Remember, compile times are part of it and that may be the only problem for CGI::Simple -- it uses two separate files.
I'm currently working on getting fastCGI to run with this setup, because it's absurd to have to think about the number of files being used as a performance problem.