The Olympic Committee

It seems that the argument being made by the Olympic Committee is that it is unfair for her to compete against other females because she has a biological advantage. I wonder what the response would be if you looked at it a bit differently. It sure seems to me that Lebron James has a biological advantage over most of the other players in the league. Should he be allowed to compete in that league? Shouldn’t they make a different league for people who are so much bigger, stronger, and faster than everyone else? Isn’t that a similar logic?
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What is the controversy about Caster Semenya? What does that suggest about the “naturalness” of sex and/or “gender”? How can/should the determination be made?