Ironically..I had this same problem, but for different reasons...
Most Likley, the Perl version '5.8.8' being found is located in your Git directory.
Yes, you will need to install one of the supported versions of Perl..even if you deselect Perl in CMake. Choose the one based on your build choice.
http://code.google.com/p/projecteqemu/downloads/list
EDIT: If you already have one of the supported versions installed, verify that the correct version of Perl comes first in your system PATH.