After Spidey 3 it is hard to believe Raimi really has an interest in the character anymore. What should have been done with 3 was to make Venom the one and only villain in the movie. Fans have been wanting him since the beginning, it would have made a tighter movie overall as well.
Just make the story like this: Edward "Eddie" Brock is this new hot shot reporter at the Daily Bugle that hates Spidey as much as Jonah Jameson. He also hates Peter and constantly bullies him at work knowing how Peter gets the beauty shots of Spidey all the time.At first Peter is all wimpy and scared, not because Brock is three times his size and twice his height, he can easily hurt him and blow his cover. Add to that frustration, things are not going too well with Mary Jane because of his alter ego being away all the time. In the meantime, Harry is howling mad at Peter for the discoveries he made in the second movie and tries to bring him down, but fails miserably and ends up in a deep coma.
The Symbiote then lands and takes over Peter's body is certain ways, making him stronger, faster, meaner. Spidey now hurts goons more lethally and the public knows it; it is getting huge press how Spidey is now less understanding and more brutal in his handling of criminals. A great action sequence then follows when Eddie gets certain pictures of Spidey doing things he shouldn't be doing (beating up an unarmed goon to a pulp, mashing heads with greater force, whatever). But it isn't juicy enough so Eddie does some photoshopping and presents the pictures to Jameson.
Jameson is happy, but Peter looking at the photos and being internally influenced by the Symbiote, points out the obvious douchebaggery of Brock. An enraged Brock then tries to attack Peter at which point Peter basically manhandles Brock in front of the entire office, and Jonah, none too pleased with Brock's shenanigans, fires him on spot. Brock is pretty badly injured though, and coupled with how the public is now 'scared' of Spidey and his supposed ruthlessness brings Peter to decide he must discard the symbiote.
The rest of the movie plays off from Peter trying to get the symbiote off in the same church Brock goes to pray for Petey's death, discovers Peter's "secret" and ends up (following lead/taking inspiration from first three movies) kidnapping Mary Jane and holding her hostage until Spidey shows up and fights him. The spectacular fight scene pits Pete's experiences as Spider-man against an enraged man covered in the alien symbiote that has absorbed all of Peter's skills, and only Peter's sheer determination to fight and his smarts save him and MJ in the end.
A subplot of the movie would show Dr. Connors being fascinated by the symbiote sample Peter gave him, does some intriguing research, and ends up discovering how it could help him get his arm back. He mixes some lizard stuff with the symbiote's genetic structure with whatever scientific excuse the writers write about, and injects himself with it. In a key scene we see his eyes turning red, and his breath being of a soft hissing tone (setting him up for the fourth movie, etc).
What do you guys think?