Atlantis is Greece?
 

http://en.wikipedia.org/wiki/Santori...tis_connection

just how tested is this theory? is there any counterarguement against it?

Tested? From what I've heard, Santorini is just a very good candidate judging from various bits and pieces of information. The violent happenings there may have started that particular myth. And I don't think there's nothing more to it really.

Oh, and I visited the place a few months ago :).