For kicks, I've extended the basic Arduino shift register LED control example CIRC-05 from www.oomlout.com to use the Arduino's hardware SPI routines instead of software signalling.
As someone who has done very little with low-level electronics and who didn't know what SPI even was until today, this was embarrassingly easy. Kudos to the excellent Arduino libraries and the great documentation for making this simple.
I'm posting the re-written example for CIRC-05 here. It has the original software-based control as well as support for SPI, so you can see how similar the methods are.
(BTW, if you were wondering what a "latch" is in the IC, see this example.)