OK, first important question is: what type of Micro you want to use ?
If it's PIC, then you don't need external paralel memory. If 8051 then I can't help you.
PIC's have great support from Microchip and from Forum's like this one, try reading "Sticky: Newcommers, please read! (PIC regarded) Upd. 4", it has some valuable info for beginners.
If the project is really Big, use 16F877 or 18F4x20 (where x 3-6).
Also, try to use Microchips port expanders, they use serial bus (I2C or SPI) to bring you more outputs, this could be better than latches.