Phelps will most surely figure in "greatest male athlete" debates for years to come. What bugs me a little is how the media has downplayed Mark Spitz's accomplishment, saying how the field wasn't as strong in 1972. How easily they turn on you. Come on, Spitz's record remains one of the greatest Olympic achievements ever, and it took 36 years and a superhuman effort by Phelps and company to surpass Spitz. Phelps's 8 golds is certainly phenomenal, but I'm not about to spit on Spitz (sorry, I couldn't resist).
In terms of greatest male Olympian athlete, perhaps Phelps takes that title by default, if one is judging purely by his record gold medal haul. I'm just not sure if that's being fair to the all-around, multi-discipline athletes of the Games like the decathletes. But then, maybe we'd have to see a decathlete dominate every one of his events for him to be comparable to someone like Phelps, even though he does nothing but swim. That's another debate for you.
Usain Bolt is definitely amazing as well - being able to set a new world record in the 100M like he did and making it look so easy. He wasn't even going full throttle right through - the guy actually slowed down before the finish line, and he still posted a 9.69
That is nuts. I had actually never heard of Bolt until the Olympics.
Heads will roll if Phelps or Bolt were to test positive for steroids, heh heh. But at least it would be highly unlikely for Phelps, as I understand that he volunteered to subject himself to some sort of new intensive anti-doping procedure for the Games, to show that he was clean.