I’ve never understood the hype surrounding this pseudo-dilemma in atheist circles. The answer is actually quite simple: being all-powerful doesn’t mean being capable of doing impossible things. If your definition of omnipotence includes the ability to do the impossible, then, as a Christian, I have no problem saying that God is not omnipotent, but that is merely a matter of wordplay.
There are many valid criticisms of religion and even of theism, but this one has never really made sense to me.