64 bit RAM is simple enough that it could probably be implemented with flipflops in a cheap CPLD.
He can build the entire thing in a Spartan 3 FPGA. That would result in some actual usable knowledge.
He could just be doing this for fun, you know? Because it's a challenge? Perhaps he prefers soldering to coding in an HDL? Not everything in life has to have a practical or instructive outcome, otherwise the gods wouldn't have invented beer or Rugby football (or, for our antipodean friends, Aussie 'no rules' football).
I'm sure Sir Edmund Hillary could have got to the top of Everest more quickly and more easily using a helicopter. But I suspect that had you suggested it to him you would have received short shrift and possibly even a black eye. Had he done so, no doubt he would have gained some actual usable knowledge of flying helicopters, but we wouldn't be calling him
Sir Edmund. Note that, even though it has been done many times before, many people still risk their lives to climb Everest (approximately 1 in 6 who make the attempt die*).
Finally, if one
was going to use an FPGA, something a tad more recent that the Spartan 3 might be in order, or were you trying to change the challenge from using vintage SSI/MSI logic to using a vintage FPGA?
*The risks of constructing a CPU out of 7400 series logic are less. Probably limited to the odd burnt finger and occasional agony as you step onto a dropped 14 pin DIL package with bare feet.