The MAX7219 does all the control and refresh work for you in driving either an 8x8 matrix display or 8 x 7-segment displays (usually these also have a dot so its really an 8-segment display) - 64 LEDs total. All you have to do is send it serial commands via the 4-pin SPI interface and it will auto-magically take care of the rest. Wiring is simplified as well, you only need to set the current level for all LEDs with a single resistor instead of 8 and you can also dim the entire display digitally. It's a thru-hole chip so you can use it in any breadboard, perfboard or other project, although if you're soldering it in, we suggest using a socket.

The Arduino playground has a nice set of tutorials introducing the MAX7219 and 8x8 LED matrices