Steven,
if you want to save board space and only use ONE external eprom OR ramchip, you can think about mounting the latch-ic down under the RAM or eprom. use a socket for the memory chip where the latch wil fit in between the two rows (or prepare a socket so it will) of the RAM or eprom. So the latch wil be mouted directly on the board without a socket.
This will simplify your board wiring also, because latch-outputs has only to be wired to the RAM or eprom pins A0 to A7. Muliplexed lines from mpu (AD0 to AD7) are wired common to the latch AND the RAM or eprom.

hope you can use this idea.

Henk