The issue is the Teensy doesn't output 5v either, and whilst it will output a high voltage above the TTL "high" threshold, it's not ideal, especially when you're dealing with old ICs.
You'll also have the voltage drop if you use the current limiting resistors. You can implement one of the many ways to convert the voltage level, but that's not ideal either due to delay/altering rise/fall times.
There's other things you have to consider as well, such as what are the rise and fall times using a 120mhz cpu? Do they come within the limits of TTL and older eproms?
You can make any CPU 5v "tolerant" by diode clamping, but that's not the main issue here.
You'll also have the voltage drop if you use the current limiting resistors. You can implement one of the many ways to convert the voltage level, but that's not ideal either due to delay/altering rise/fall times.
There's other things you have to consider as well, such as what are the rise and fall times using a 120mhz cpu? Do they come within the limits of TTL and older eproms?
You can make any CPU 5v "tolerant" by diode clamping, but that's not the main issue here.