I watched this last night and really enjoyed it! Raimi's first Spider-Man really ushered in a new era of superhero movies and nailed key iconography that was at times lacking in ASM but overall I'd have to say this is my favorite Spidey film yet, though the fact that the Lizard is my favorite Spidey villain goes a long way.
I liked the less campy approach (though Raimi's camp was incredibly charming) and thought many of the parallel scenes in ASM were superior to those from Spidey 2002.
Lots of little things:
1. The "controversy" of Spider-Man being friend or menace actually made sense in this movie.
2. I hated the absurdity of the Green Goblin and Spider-Man both turning into super powered beings independently of each other the exact same week and appreciated how ASM linked Spidey to the creation of the Lizard.
3. The cops were actually kind of badass. Almost every superhero movie (even the great TDK films) make them out to be incompetent buffoons.
4. The hero was not unnecessarily vague and hurtful to the girl he's trying to protect. Really annoying when people have a secret reason to end a relationship with someone they care about and yet make NO effort whatsoever to soften the blow (as we saw at the end of Spidey 2002.) It looked like Garfield was going that route with Gwen until his last line to her in class. Really slick.
5. The bad guy actually looked cool (fantastic actually) instead of the dopey Goblin costume.
6. The Raimi Uncle Ben death was iconic but I felt that it was much more poignant in ASM.
7. Action was MUCH cooler in ASM. The "real guy webslinging" really paid off on film. And the Lizard going nuts in the high school: winning! Really awesome.
8. I didn't miss them in the Raimi trilogy but loved seeing the mechanical web shooters.
9. A much better script. Really natural and believable dialogue. Raimi's Spidey even delved into TPM territory with Aunt May's "you said mommy is she an angel" bit.
Raimi 1 and 2 have all kinds of charm. Just tons. And they were the first to bring Spidey to the big screen and did so superbly. So they'll always be the more "important" contributions to cinema. But if I could only own or watch one Spider-Man movie ever again I'd have to go with ASM.