After I look through it a few more times.

AFTER ALL, SI'S swimsuit issue comes only once a year, and this year's edition--set in Bora Bora--is anything but Bora-Boring.

It's excited so many, in fact, that some say they are mildly disgusted by this year's pictures and by the popularity of the issue that first appeared more than 20 years ago.

So Sports Illustrated passed off some band aids as bathing suits. Ever been to Ft. Lauderdale?

So Sports Illustrated sold eight times as many copies of this issue than it usally does. Ever seen Elle Macpherson on the cover of SI before? Ever seen anyone like Elle Macpherson on the cover of SI before? Wearing what she was wearing?

Sure, the content and popularity of the issue says something about today's society. Maybe it is something we ought to be worried about. But why pick on SI?

They've just given us what we asked for.

AND THEN THERE'S all this fuss over whether SI ought to be involved in the swimsuit business at all.

Anyone bother to consider that the nation's other two major sporting magazines--Sport and Inside Sports--also deliver annual salutes to swimwear.

And I didn't hear a word last month when Paulina--SI's cover girl for the two years before this one--showed up on the cover of Life's relatively new venture into the world of sin in the sun.

The fact of the matter is that the swimsuit issues have become institutions, and none is bigger--or better--than SI's.

But now that some of its suits resemble bottle caps, Sports Illustrated has been villified for exploiting women and for being sexist.

Oh, please.

Sports Illustrated is one of the nation's most entertaining magazines--sports, girlie or otherwise--and once a year it provides America with one of its most entertaining institutions.

Don't like it?

Don't read it. Or look at it.

And don't expect me to feel guilty about doing both.