I guess the question becomes at what frequency does the breadboard become a hindrance? 50MHz?
The atmega32 I have runs at 16MHz and I haven't done anything other than blinking LEDs.
This is where a pulse/function generator and an oscilloscope would come in handy. I don't remember where, but I seem to remember reading or hearing that breadboards are useless starting at around 1GHz. That seems high to me, and it might have only been 1MHz.
If you have a function gen that can go to 1MHz or more, and an oscilloscope, you can test it. Pop a square wave on two adjacent channels on a breadboard, then, as far away as you can, and still be in that channel, hook up a scope probe. Put channel 2 as near to the function gen as you can. Then, I would put CH1, CH2, and the difference between CH1 & 2 on screen all at once. Observe as you turn up the frequency. When the squareness of CH1 goes away or the signal is attenuated by 3db or more, you've exceeded the bandwidth limit of the breadboard.
I honestly don't know what frequency this would be. I'm going to test it tonight and see.