ok now that I've watched it all, on my tv, lights out. I feel I should give some of my thoughts.
I still think that in most ways, this is better then the original, although I guess I don't think that cutting out stuff like mary's first show and other things was good for the story, mostly because we lose the harry and peter conversation, which I felt was needed. but I guess I can live with it.
I agree about all the other cuts though, everything I didn't like was gone (dancing, WICKED KOOL, ect.) and venom's voice was awesome, much better. I admit I was a little worried about how you would cut out the jazz club dance, since I thought if he didn't dance and make a scene, then it wouldn't work that mary jane felt bad and was all "what's wrong with you?!" and such. so GREAT job getting that to work.
And I guess there was one other thing, the music in the scene with conners on the phone seemed a little bit loud, at least to fit the feel of the rest of the movie. the mood was right, but it seemed to jump at you a little to much. I'm not sure this would work, I would try it myself if I had something better then windows movie maker to work with (it can't do audio worth crap) but I was thinking maybe you should put the black spidey score behind it (if you redo for 3.1), I don't know, just an idea. it would fit the rest of movie more I think.
all in all though I think this was a bit better then the original, and I'm glad I could see it. Great job!