The general consensus is that the quake occurred closer to Thera, and that it was the (if any) site of an Atlantis. The other two main suspects of an Atlantis are Santorini, as you said, and Crete, both of which were largely destroyed by the tidal wave from the Thera earthquake.

I just hope Brandon Irons has enough money left over from his paltry legal settlement (I've seen the papers), perhaps he can buy some t-shirts that actually have sleeves so he can shed the "moron Canuck" image he has cultivated for so long.