If 1400 picoseconds is the time it takes for a clock cycle (and therefore the minimum instruction time for 1-cycle instructions), that'd be about 700 MHz, which actually seems pretty high compared to what I would've guessed.
My colleague uses it for research purposes and he said that it is pretty mature.
Our architecture explicitly omits a clock, saving energy and time among other benefits.
Also, they quoted instruction execution time as being as low as 1400 picoseconds, so 700MHz equivalence is probably the best case, not the average case.
Edit: They also say in the architecture paper that their goal is one billion operations per second, or 1GHz.
[1] http://www.greenarraychips.com/home/documents/greg/PB002-100...