Perennial grain crops hold the promise of stabilizing fragile lands, while contributing grain and grazing in mixed farming systems. Recently, perennial rice was reported to successfully survive, regrow, and yield across a diverse range of environments in Southern China and Laos, with perennial rice PR23 being identified as a prime candidate for release to farmers. This paper reports the evaluation of PR23 for release, by (1) comparing its survival, regrowth, performance, and adaptation with preferred annual rices across nine ecological regions in southern Yunnan Province of China; (2) examining the economic costs and benefits of perennial versus annual rice there; and (3) discussing the evidence for the release of PR23 as a broadly adapted and acceptable cultivar for farmers. Overall, the grain yield of PR23 was similar to those of the preferred annual rice cultivars RD23 and HXR7, but the economic analysis indicated substantial labour savings for farmers by growing the perennial instead of the annual. PR23 was comparable to the annuals in phenology, plant height, grain yield, and grain size, and was acceptable in grain and cooking quality. Farmers were keen to grow it because of reduced costs and especially savings in labour. PR23 is proposed for release to farmers because of its comparable grain yields to annual rices, its acceptable grain and milling quality, its cost and labour savings, and the likely benefits to soil stability and ecological sustainability, along with more flexible farming systems.