Re: capacitors
In practical applications, normally you would want a big enough capacitor (like 100uF) at the power pins. This acts as a bucket for any switching in the board. It's response is slow though. When the board needs current (charge), the capacitor will supply them before being re-charge back by the supply input.
To by-pass noise into the power line, we need to use values like 4.7uF, 0.1uF. These are fast, so that any high frequency noise can be by-pass to ground and doesn't stay on the power line.
The frequency response of the capacitors are important if you are working on a low noise board. Big capacitors usually have very low frequency response, their nominal values are only good at around DC. At higher frequency, they will drop.
So to cover a wide range of noise, you will need different capacitors with different values.