I think I have found the answer:
http://www.epanorama.net/documents/vga2rgb/vgamonitor.html
It describes the LM1881N plus a few log gates to get a true hsync. With that I should be able to drive my TTL monitor using a composite video signal.
I have a teensy++ 2.0 which has 8k RAM. Timing issues aside, that ought to be good for at least 256×192. That will allow for a 40×24 line display, assuming 5×7 characters with 1 pixel spacing between them.