Slashdot linked up this BBCnews article summarizing a new development in the search for Atlantis:

Dr Rainer Kuehne thinks the "island" of Atlantis simply referred to a region of the southern Spanish coast destroyed by a flood between 800 BC and 500 BC.

Includes some hard-to-interpret pictures. The proposal is intreguing, but until someone sticks a shovel in the ground there it's little more than that. Unfortunately (and suspiciously coincidental), the site resides inside a national park, so getting permission to dig could be problematic.