If your intention is to monitor the bus activity, instead of using simple buffers, consider using latches, e.g. 74HCT573, and connecting the latch input to /RD and /WR inputs through a NAND gate, so that the latch is transparent when one of these signals is active, and it outputs previously stored value when these signals are inactive.
Regarding floating bus - generally it is a good practice to add a pull-up resistors on data bus. The address bus shouldn't be floating unless you have a DMA controller (in which case it will float for a short period of time when CPU and DMA pass the control of the bus between each other)
IMHO 330 ohm / 10 mA is too much for modern LEDs. 470 ohm is more reasonable, or even 1k if you use "true green" or blue LEDs.
Hi Steve,If you don't want the LED's to light up all t. . .
At least for the Z80 data bus it is a good practice to use pull . . .
At least for the Z80 data bus it is a good practice to use pull-up resistors. This will result in CPU reading 0xFF value if nothing drives the bus. The corresponding instruction is RST 38. And the fact . . .
-SK