Which leads me to a small plug... these are, of course, among the issues that Udo Schuklenk and I will be discussing in our new book, 50 Great Myths About Atheism, to be published by Wiley-Blackwell. Malik makes a good fist of them and scores some telling points against theistic belief... which is not to say that I endorse every point he makes (he is discussing philosophical issues, after all).
Have a look for yourself at Malik's post, which is detailed and interesting. It concludes with a nice flourish:
The human condition is that of possessing no moral safety net. No God, no belief in God, no amount of ethical concrete, can protect us from the dangers of falling off that moral tightrope that is to be human. That can be a highly disconcerting prospect. Or it can be a highly exhilarating one. Being human, the choice is ours.