Yes, this should be fast enough to do address decodes, but the question is - do you have enough I/Os, and is there enough logic space to accomplish what you want ?
For greater speed, greater capacity, and greater number of IOs, you would likely need to switch to a different family of chip, which would almost certainly be 3.3V, and need level-conversion. It's not the end of the world, just an inconvenience to add more chips.
You might want to try a printed circuit board design for anything more complex than that - they are very reasonably-priced when you order from China (but there's a short learning curve to get going on PCB design).