The score album hasn't been announced yet. The compilation album is out there, and it's so-so. I like a few tracks -- the Yeah Yeah Yeahs, the Flaming Lips, and a few others. Most are a wash, though.
On the other hand -- I got to see Spider-man 3 at a press screening this Friday, and I really enjoyed what Christopher Young did with the score. Not only is he utilising all the relevant Elfman themes, he adds strong material for both Sandman and Venom. And he does it intelligently [ultra minor spoilers ahead] -- the opening credits begin with a recap of the first two movies, and as the elements from the third one (black goo, sand) begin to creep into the credits design, he segues into the new thematic material.
On top of that, the orchestrations are somewhat more lush this time around, although Elfman's signature spidery sound is kept intact. And Young even writes very coherent action-music cues that actually feel carefully structured.
So when you compare all this with what John Ottman did with the John Williams legacy in Superman Returns, Young's achievement is easily superior. (As is only right, since S3 is an easily superior film to SR.)
Oh, and as far as I remember, Elfman actually had a falling out with Raimi over the replaced cues in S2, and that was the main reason he quit this time, to be replaced by the guy who wrote those replacement cues.