From my workbench, AutoReloader version 0.03:

#!/usr/bin/perl -w
use strict;
use Data::Dump::Streamer;
use AutoReloader qw(AUTOLOAD);
AutoReloader->check(1);
$sub = AutoReloader->gensub("foo");
print $sub;
$sub->();
print Dump($sub);
__END__
AutoReloader=CODE(0x8337994)
AutoReloader
[download]

with a file auto/AutoReloader/foo.al

sub { print __PACKAGE__ }
[download]

Data::Dump::Streamer produces via Dump($sub)

my ($class,$file,$h,$load,$package);
$class = '';
$file = './auto/AutoReloader/foo.al';
$h = {
       check    => \do { my $v = undef },
       checkref => \do { my $v = 1177271972 },
       checksub => \sub {
                     package AutoReloader;
                     use warnings;
                     use strict 'refs';
                     (stat $_[0])[9];
                   },
       file     => './auto/AutoReloader/foo.al',
       function => 'AutoReloader::foo',
       inner    => \sub {
                     package AutoReloader;
                     print 'AutoReloader';
                   },
       outer    => 'V: $AutoReloader1'
     };
$load = sub {
          package AutoReloader;
          use warnings;
          use strict 'refs';
          my($class, $package, $file, $h) = @_;
          delete $INC{$file};
          my $ref = eval "package $package; require '${file}'";
          return undef if $@;
          {
            unless (&Scalar::Util::reftype($ref) and &Scalar::Util::re
+ftype($ref) eq 'CODE') {
              $ref = \&{$$h{'function'};};
              BEGIN {${^WARNING_BITS} = "TUUU\025UUUUUUU\001"}
              no strict 'refs';
              *{$$h{'function'};} = $$h{'outer'} if $$h{'outer'};
            }
            ${$$h{'inner'};} = $ref;
            my $sub = sub {
              BEGIN {${^WARNING_BITS} = "TUUUUUUUUUQU\001"}
              my $cr = $$h{'checkref'};
              my $check;
              $check = ${$$h{'check'};} if defined ${$$h{'check'};};
              if (not defined $check) {
                $check = $AL{'check'}{$class} if defined $AL{'check'}{
+$class};
              }
              if ($check and ${$$h{'checksub'};} and (my $c = &${$$h{'
+checksub'};}($file)) != $$cr) {
                warn "reloading $file" if $Debug;
                $$cr = $c;
                &$load($class, $package, $file, $h);
              }
              goto ${$$h{'inner'};};
            }
            ;
          }
        };
$package = 'AutoReloader';
$AutoReloader1 = bless( sub {
                   package AutoReloader;
                   BEGIN {${^WARNING_BITS} = "TUUUUUUUUUQU\001"}
                   use strict 'refs';
                   my $cr = $$h{'checkref'};
                   my $check;
                   $check = ${$$h{'check'};} if defined ${$$h{'check'}
+;};
                   if (not defined $check) {
                     $check = $AL{'check'}{$class} if defined $AL{'che
+ck'}{$class};
                   }
                   if ($check and ${$$h{'checksub'};} and (my $c = &${
+$$h{'checksub'};}($file)) != $$cr) {
                     warn "reloading $file" if $Debug;
                     $$cr = $c;
                     &$load($class, $package, $file, $h);
                   }
                   goto ${$$h{'inner'};};
                 }, 'AutoReloader' );
$h->{outer} = $AutoReloader1;
[download]

Amazing. It is nearly the entire wheel.