From a purely scientific viewpoint, one must be careful of any postulation being represented as fact. Ryan and Pitman's argument is a sound argument, but it is not necessarily fact.
From a purely scientific viewpoint, it should be curious to see cultures from all over the world relating similar viewpoints regarding religion. If as some suggest this is lower-order thinking in humans, is it uniquely human? When asked about the concept of death, Koko (the famous sign language-using gorilla) remarked "sleep". Is it half the people have missed something even a gorilla undestands, or is it half the people are on the thinking level of a gorilla?
From a purely scientific viewpoint Ballard's discovery cannot be construed as conclusive scientific evidence of a great flood- at least not as represented in the quote. Archaeological searches for the Ark provide far more credible proof than a submerged civilization in one specific location.
Edit: I snagged the 300th post!