You can use ATF22V10's or 16V8's instead of the bigger 150X's. I think these come in speed grades down below 10ns. The only issue Ive found so far with the HDL route of programming is simulation tools. WinCUPL includes WinSIM which means you can simulate your design, but ProChip Designer only has options for licensed (for a fee) simulation tools as I understood it. Otherwise you're going to need to find your own solution to that, maybe something open source.
Im playing around with a 1502 at the moment. I bought a development board/kit, although with WinSIM at hand you technically dont need anything physical until you want to program a device - the beauty of simulation tools!
The biggest hurdle is understanding CUPL as a language, and working around WinCUPL/WinSIM and the bugs it has - some of them can be a bit infuriating and a put-off until you figure out how to work around them. Then when you think you understand it, it throws something else at you. But Im getting there.
Im using it to build a single chip SPI peripheral which I may end up using in a project of mine, and I'll probably release the source for others to use if I can finish it without losing my mind. :-) Im writing it in CUPL so that I can simulate it with WinSIM, but some kind of HDL is on the list if I can figure out how to do simulations.
In my oppinion, unless you need the speed, or have tight board space requirements (in which case you can also look at "little logic" devices such that you can sprinkle gates around as you need them) then glue logic is probably just fine.