Before you fuckers call me a crackpot.
There was an interesting documentary on it just last week (I think on PBS). I think most people that are fascinated with it tend to be new age hippie types who are into tarot cards, horoscopes and reading "auras".
But, there really are scholars who are still looking for it apparently because they assume Plato wouldn't have made it up and gave considerable detail on what Atlantis was like.
The documentary covered the more recent attempts using satelite imagery and considerable resources. One of the things mentioned was how they found cocoa leaves and other things buried in Egyptian tombs that couldn't have came from anywhere else but South America. They also point out tomb designs and irrigation techniques found in islands off the coast of Africa that mirror the exact same techniques found in central and south America (and not Africa or Europe).
I think it is possible and probably likely there was (some minimal) trade going on between the continents during that period.
If it did exist at all, my guess would be South America. Plato probably exaggerated the claims of how sophisticated Atlantis was (but modern archeology believes, they did have buildings and streets lined with gold in pre-historic societies in South America).
THOR HEYERDAHL RA AND RA II REED BOATS
I'll post better links if I can find the name of the documentary.