ALL'S now thankfully well with the Wan Chai International Music Festival, where the discord of recent weeks has given way to harmony. Organiser Mark Thompson assured Keeping Posted that ''the suggested argument'' between him and Wanch Pub owner Howard Mackay over which cover bands would be allowed to play at the event had never been ''much more than a discussion''. He added: ''But to set the record straight, it might be good for everyone interested in the festival to know that four cover bands - AWOL, The Bastards, Just Say More and Hooray Howard and the Henries [which Howard himself fronts] - will be in the final line-up.'' The brouhaha, which probably had more to do with bruised egos than muddled schedules, threatened to cast a pall over Thompson's undoubted achievement in putting together an impressive bill of 13 international and 10 local bands. Headlining the pop fest will be chart-busting British rapper Apache Indian, who we believe exemplifies the old adage that you don't need talent to succeed in the pop business. Thompson, who through the Wan Chai Association is seeking to promote the district with the religious fervour of a latter-day missionary, staged the first such festival last year. The event attracted critical praise and more than 10,000 people. He said: ''Little did we realise that this year we would get such an overwhelming reaction from international acts looking to break into the Asian market. ''The fact that the event at the Southorn Playground on October 23-24 will be shown on MTV and broadcast live on FM Select has also helped stir interest. ''We want to make this Asia's largest music festival, rivalling even Glastonbury and Montreaux in the West. ''We have set about booking the 40,000 seater new Hong Kong Stadium for next year.''