Palming is more exciting and dramatic. It's not like anyone has completely gotten carried away with it. No one is picking the ball up and running with it. The refs are doing a good job of keeping the game in balance generally. Remember, this is also about entertainment, and the game is just plain better to watch with more leeway in ballhandling.
The real thing that never gets called is the push off combined with the crossover, that more and more players are doing post Jordan-Russell. Guys like Marbury or Wade will cross their man up and give him that little touch that makes him fall down, and all of us laugh. Actually...don't call that either. Watching Wade break Snow, even though I was rooting for the Cavs, was good stuff.
If you think dribbling is insane now, Iverson's rookie year was really the high point(or low point depending on how you look at it) of dribbling. That Iverson crossover he used to be allowed to do, was NASTY.