This module is a simple debounce that will prevent switch noise from entering logic and causing havoc. It works by initially latching the input twice for synchronization between the (asynchronous) real world and the (synchronous) logic. The input is then sampled eight times, one every 50,000 clock cycles, and only after there have been eight consecutive samples of all the same reading, high or low, does the input change. This process happens continuously so whenever there in a change in the input that is steady the output will follow. With a clock of 50 MHz the samples will take place every millisecond giving a delay of 8 milliseconds, this can be adjusted for a specific time or period by changing the value of Delay.
3/3/2010: Updated code so that output would be registered rather than combinational.