I set up a basic free run circuit (makes the CPU read the NOP/"no operation"/0x00 instruction from the resistors tied to ground and then cycles through all it's memory address space in a loop) and can see the output of the top two address bits on the LEDs which are flickering rapidly. I copied the circuit from the MAG-85 project on http://saundby.com/electronics/8085/freerun.shtml

Here are some close-up photos of the circuit on the breadboard: