> Could the speed be improved by using MOSFETs with better capacitance?
Not using MOSFETs would make it faster, in theory. MOSFETs have a delay time and are considered slow. But it appears they want to be true to how the original was made. There definitely exist mosfets indistinguishable from dust - I made the mistake of designing with a few at one point. So probably, yes.
Another thing I noticed is that the distance between the components on the board is quite high. They might have done that to replicate the original layout, or maybe I'm just not seeing it correctly. But everything - including the traces on the board - has some capacitance.
> Can the full 1.023 Mhz be attained by throwing money at it or are there physical limitations at that scale?
Hard to answer without measuring, though I'd imagine it's possible. 1MHz isn't that fast, but if you have high capacitances or they don't switch fast enough (e.g. MOSFETs) then your signals are going to get muddy.
EDIT: to be clear, not ragging on the project. This stuff is beyond cool.