Recursion can always be eliminated by hard-coding the stacking of context variables that the compiler provides and using a loop instead of a recursive call. In fact this is exactly what File::Find itself does. But recursive code will almost always allow a better expression of an algorithm than the hammer and nails technique.
For some definition of "better" meaning "easier to understand", but certainly not "faster", right? ;)
I agree with Rob that recursion is usually prettier. It has very real limits though, that iteration can often extend greatly. Also, if you're ever looking for more speed, start with unrolling recursions, trust me.
James
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