Thanks, borna, for an interesting read.
Here's the excerpt from the article that I consider the most misunderstood rule. In essence, you can't travel until you actually have control of the ball. I've heard fans yell "traveling" when a guy who is fumbling the ball takes a step or two and is not called for traveling. Here's what the article says about that situation:
Theoretically, a player could fumble/juggle the ball from one end of the floor to the other, and no violation would have occurred. I often see plays where one team has a 3-on-1 fast break. The point guard throws a bounce pass to his teammate on the wing, who is breaking for the hoop. The player bobbles the pass and takes several steps before going up to lay it in. The fans go bananas, screaming for what they believe is an obvious travel. Nine times out of ten they are wrong, because the player who bobbled the pass never established a pivot foot. Thus, no travel.