My favorite physics 101 textbook (Giancoli) explains precession in terms of a spinning top whose axis is tilted from the vertical.
The way the book sets things up, $L$ (angular momentum) points along the top's axis, and $\operatorname{d}\!L$ is perpendicular and horizontal to $L$, pointing in the direction of precession (in their figure, $\operatorname{d}\!L$ ends up pointing to the right). It then goes on to state that since $\operatorname{d}\!L$ is always perpendicular to $L$, $L$'s magnitude is constant, and only its direction changes. Finally, it concludes:
Since $L$ points along the axis of the top, we see that this axis moves to the right... (Giancoli, 2008)
I just don't understand why you can assume that it will always be true that $L$ and the axis of the top will always lie on top of one another.
The book doesn't address this, but is there only one way in which the top can move in order to produce the required motion of the angular momentum vector? If that is the case, then I guess it would make more sense? I dunno. Help me out here folks.
(I know that there is a deviation in $L$ due to the precessional motion itself, but another one of the book's assumptions is that this is irrelevant as long as the top is spinning quickly enough.)