Level converter question

So is it worth looking for a single IC that would do the level translation for 2 or 4 channels, or just use a few resistors and an n-channel like SFE's level converter does? I just need the transmit lines, not RX as there won't be anything coming back.

However, this brings up another question, if I have another SPI device that requires 3.3V logic levels, can I have those signals tapped BEFORE the level converter? Basically, something like this:

Atmel ----+----> Logic Level Converter -----> 5V SPI device
           \
            \-------> 3.3V SPI Device

The 5V device does not have a slave select pin, but the 3.3V one does. So if I just send data down the MOSI line it should still work to trigger the 5V device with CHK, but the 3.3V device won't do anything till I actually select it. Yes? But then what happens with the 5V device since it will still see the data being sent to the 3.3V device ...

Or should I enable the USART in SPI mode and run the 5V device from that with everything else off of the SPI port? Not that I have any clue how to get that accomplished but then anything can be learned, right?