Sounds like a pretty convoluted storyline. Too many villains for one, and to my mind, Sandman seems like a lame villain choice - what can they possibly do with him?

If they did it right in the first place and kept with comic continuity, this all could've been sweet. For instance, Gwen Stacy in the original, have her die at the end when Spidey has to make the choice (like the comics); introduce MJ in the sequel, develop the second Green Goblin/Hobgoblin story to the point where someone actually assumes the identity by the ending...