I did Atkins in 2004 and lost a fair bit of weight and I felt great. I wasn't exercising at all, just dieting.
From memory, while doing Atkins you should increase your intake of mono and poly unsaturated fats, as when your carb stores deplete after the first few days, your body switches to burning fat as an energy source.
Atkins gets a bad wrap for the first phase of the diet, but as other posters have advised, the later phases of the diet increases the amount of carbs one can have.
My only word of warning is to make sure you keep your fibre up with Psyllium Husk or ****mucil or whatever tickles your fancy. Not enough fibre and you can have dramas with your plumbing.