if you want the "true" knight rider effect, where you have a dim tail of leds following the bright bouncer, I think the lm3914 based circuit is going to be best for this.
you can accomplish the same in a PIC, using a lot of programming (as the author in your link points out using PWM)... this also requires a discrete pin for each LED, since you'll need to be turning it on and off
if you want a 'simple' led chaser, where the dim tail is left up to persistance of vision rather than a cooling down filament, a simple small PIC (like a picaxe), 8 pin atmel, or whatever, is all you need.
here I have 24 leds (rgb 8x3) controlled by an 18 pin pic, but actually I was only using 4 control lines from the pic itself (check out the videos near the middle of the post):
http://projects.dimension-x.net/archives/51The number of leds connected is only limited by the speed of the microcontroller you're using, and I think that limit is some huge number, even a slow uC can push bits very fast. The patterns seen in those videos appear to be "mirrored", this is from the mathmatical formula I was using to generate them, and purely intentional. Making the led "bounce" from one side to the other would be easier
