Hop,
"As for switch bounce, the first "legal" transition that results in a valid clock pulse will advance the counter and remove the voltage to the switch. Who cares if the switch contacts bounce after that?"
No that thinking is absolutely wrong(both in theory and in practice) !!!
The voltage is "removed" from the output in a non-zero time interval.
For the CD4017 (which is a very slow digital device,Fairchild datasheet )
it can be more than 400nSEC @9V, and 1000nSec @5V.
In that 0.4uSEC the voltage to the switch is still "1", if the switch bounces in that time interval,
we may get false clocking!
The minimum tW for the CK line is 90nSec .
So, we can get up to 400/90 => 4 ,"0" and "1" legal clock levels on the CK line
that is equivalent to 2(or 3) legal clock positive edges.
For non "legal", but still ones that may advance the counter, we can get much more.
My diagram show it clearly let me put in the numbers for you:
View attachment 29702