For many spider-man 3 was a terrible film. It didn't live up to its predecessors and failed to live up to the hype.But when spider-man 4 was announced many thought that Sam Raimi could redeem himself.The buzz then kicked in, everyone was anticipating who the villian would be. Many thought the villian was going to be either the lizard or carnage, both would be very easy to introduce as they both have pre established back stories.
However, everyone was baffled when Sony announced that the villian would be the vulture, am I the only one who can't name any good vulture stories. Then Sony decided to piss us off more by anouncing the black cat as well, except the black cat would of been the vultures daughter and called herself the vulturess.
The plot as far as I know is as follows:
Peter Parker gets over MJ (WTF?) and finds a new girl, whose father is the vulture, Peter, torn between his new girlfriend and taking down the vulture, he decididly kills him. However his new girlfriend surprisingly doesn't like this and rejects him. Peter then decides to abandon his powers and the movie ends. Presumably for number 5 to pick up where it left off.
So in short: Yes it was a good choice, a VERY good choice.