The "Atkin's Diet" is just a copy of what bodybuilders have been doing for decades for their pre-contest diet. Go into Ketosis, etc., etc.
The idea is that eating high protien and hardly any carbs will allow you to shred fat but keep as much muscle as possible.
But, most bodybuilders only stay on this extreme diet for 6-8 weeks prior to contest b/c it is really hard to gain muscle w/out carbs. They are concerned with simply keeping what muscles they have, not gaining.
Being an amatuer, I do a less extreme Atkins during the summer. I consider the summer months my "contest", because of those shirtless days at the pool. etc. [:D]
I don't cut carbs out, but I cut them down and "clean" them up. This means high-fiber, low fat carbs like oatmeal and red potatoes are okay. NO donuts, cookies, cake, soda, candy, white bread, etc.