First and foremost: Yes, it did exist.
The significance of an ancient Atlantis existing in our past and flourishing to a point that the Minoan civilization is a millennium ahead of it's time is unprecedented. With emphasis on the exaggerations and mythological components added to Plato's story, it becomes necessary to provide factual information to contradict the erroneous speculations. And essentially, that is how this book comes into play.
In all reality, Atlantis was a rather small volcanic isle within the Mediterranean Sea, Northwest of the larger Island Crete where the Minoan empire had also settled. Due to several fortunate details, including being surrounded by ocean, hot springs, a volcano and so forth they advanced beyond belief and beyond the very grasp of the most enthusiastic human imagination. All the characteristics that would aid the Minoans in mastering the ocean with its own Navy, utilizing aqueducts with warm and cool flowing water, showers and flush toilets, also lead to the most tragic demise known to both the ancient and modern worlds. And at this point, the author expresses the reader's wonder about such people, capable of such things, wonder about the possibilities of landing on the moon before even the birth of Christ, or colonies near Alpha Centauri which would seem possible if only nature had spared us that one disaster. Perhaps the Minoans could have accomplished these tasks that now only appear to exist at the nucleus of science fiction. That is, had they lived to truly influence the "modern" world in that sense.
Dr. Pellegrino introduces fact and differentiates it from the fiction surrounding Atlantis. His conclusions are also quite logical, for example Plato's embellishment of the story described to Solon in Egypt, by placing Atlantis in the far, vast and unknown Atlantic Ocean as an Africa-sized continent nearly 9000 years old. The errors that could contribute to ridiculous numbers such as 9000 years and possibilities as to several facts and myths regarding Atlantis are presented as well, including the likely mistake between Linear A and B zero, and the idea of Noah living to see the age of 950 as a thought of the time. The author provides reasoning that may have affected the nature of the story, such as why the island sank, its hanging gardens and technological achievements, while weaving in the archaeological finds that back his ideas. What is by far the greatest aspect of the book aside from the author's understanding of how dramatic such a story was, is his comments about the true beauty of the island and its people, the art frescoes within every home, the rich vegetation and the fleet of ships docked in a natural port. The contrast of what was to what exists now is just so...
This is not to mention Thera's (Atlantis') influence on not only the downfall of the Minoan civilization but its impact on biblical stories, surrounding areas like Egypt and Turkey, and the wonder behind such power the earth can release within a fraction of a second. Pellegrino's ability to tie science in with history to interpret a story as grand as that of the Minoans is extraordinary. The details of the excavation and research are also enthralling.
However, there are a few flaws in the book that do harm it's otherwise enthusiastic and informative content. For one, at least three sentences were repeated. At one point in the book, the author explains how humans experience difficulty in understanding events more than 2000 years old. This is a valid point. However in an attempt to place the history of our world into perspective, the author took it too far. One seems lost in chronological time, and Thera is then a distant subject mentioned only a few times while this is taking place. The chapter did contain very interesting information, including one of my favorite factoids about bacteria and Uranium - 235; however it didn't pertain as much to Thera and threw the reader off task. A slight alteration to the ending would also have made a difference.
Yet the author is eloquent and interesting. He'll engulf you in a world you'll never want to leave. The beauty that is the fresco of Madonna Lilies is to Thera what the Grand Staircase was to Titanic. The greatest civilization was devoured by the hand that fed them, yet it isn't as dismal as one tends to think. The one event that wiped out the Minoans is the one event that will ensure the Minoans will last forever.
You'll have much to ponder about!