[crazy voyager]

I am not aware of the NFHS/NCAA/FED rules for striking the ball with the fist but in FIBA 13.2.1 it is quite clear that it is not allowed and is a violation.
And yes, advantage/disadvantage is good and should be apllied to a lot of stuff (like fouls, we can't call every single contact). But this is not one of those, just as you can't ignore a player standing outside the court holding the ball (unless it is a throw-in offcourse) you can't ignore this. I still belive that striking the ball with the fist is just like the double dribble, there is no advantage/disadvantage, just a violation to be called.