Shift Registers

Hello everyone,
Has anyone got any idea or has done any projects like making a huge LED display???
I want to make a 128x64(or bigger like 256x128) LED display.
Can someone please give me some ideas on hardware and software which could control such a display???
Can it be done using shift registers like 74HC595 , a PIC like 16F628 and an external EEPROM for memory???

Has no one tried anything like this before???

I did, but not so many led's.
When you use so many the current must be high in the led and the scan frequency must also be high otherwise you will see the leds blink.