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Wow, I came into this post ready to have guns blazing to disagree with APG. I have always interpreted 4-70-3 to apply specifically to a player who is moving (meaning, "running") when he/she catches the ball. But it actually says "moving or dribbling".
So you could be standing still, except that you're dribbling; lift one foot off the floor; catch the ball ending your dribble; then jump and land on two feet?
I find it really hard to believe that's the intent of this rule, even though it does seem to allow it on a strict reading.
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