Yes, but they only top at 20mhz, His code is timed at 16Mhz. unless we go AVR32 which is ARM based. And if thats the case, there are much better ARMs than the AVR32.

Now im sure there are multiple ways at making his routines much more efficient and speeding up the system. AVR8s these days are system-on-chips that are much faster than what they had then... So its possible to speed it up given if the code was made more efficient (C isnt my strongpoint).