If you were hoping for added material and hours of deleted stuff from the vaults, you might be underwhelmed. The only reason this new set is worth getting is for the new cut of Spider Man 3. There's more that shows the black suit is a separate entity from Peter, there's a short but bittersweet scene between the Sandman and his daughter and others. However, the pacing and storytelling is marginally better with the exception of a few new additions that add some emotional weight.
If you hated the third film and think this will redeem it, you might be disappointed considering scenes like the infamous dance scene are left in. Most of the material is minimal but the small stuff enhances some big character moments.
In regards to the new edit, it's a nice inclusion that takes material out but restores some new scenes. The only reason this gets a 4 star rating is the inclusion of the new 'Editor's Cut' of Spider Man 3. If you own the original Blu Rays of the first three Spider Man films, there is nothing new to see here.