I'm going to Santorini this year to see the ruins. I'm pretty sold on this being the basis of Atlantis. Not only that but this city would have existed a few generations before the Trojan wars so the archaeology gives a better idea of how those people looked and lived than the later classical depictions. I believe they have found the earliest artistic depiction of a ginger as well (although I think the frescos got removed to Athens).

Santorini is unfortunately very touristy now because they shot Mamma Mia there.