Dribble, stop, fumble, recover...
 

Help me out...was having the discussion about this and couldn't remember the quickie version...

You can Hold the ball...FUMBLE it, regain it then start a DRIBBLE, stop and FUMBLE it but you can not:

Start a DRIBBLE, stop and FUMBLE, then start DRIBBLE again...is that right?

Me and my crew were debating this on over the weekend and I remember somebody posting something along those lines at one time or another...

You have it correct.

Fumbles can only be made in the start and end of a dribble, if you dribble-fumble-dribble it is illegal
so you are correct

Look at it this way. The fumble and the dribble have nothing to do with each other. Leave the fumble out of the series of events. Legal without it=Legal with it.

Another Myth Bites The Dust ...
 

During a fumble the player is not in control of the ball, and therefore, cannot be called for a traveling violation. A fumble is the accidental loss of player control when the ball is unintentionally dropped or slips from a player’s grasp. After a player has ended a dribble and fumbled the ball, that player may recover the ball without violating. Any steps taken during the recovery of a fumble are not traveling, regardless of how far the ball goes and the amount of advantage that is gained. It is always legal to recover a fumble, even at the end of a dribble, however that player cannot begin a new dribble, which would be a illegal dribble violation. A player who fumbles the ball when receiving a pass may legally start a dribble.