NY Mag’s Vulture blog’s Claude Brodesser-Akner has a lot more details on why the Raimi version of Spider-man 4 will never be. Basically, after seeing Avatar, Raimi anted to bringing more state-of-the-art SFX, which wouldn’t relaly have been ready by the 2011 release date. Also, the script had some problems, as the studio saw it. Here’s what WOULD have been with the Malkovich Vulture storyline:
The rest of that piece is here.