Personally, I could see it going down where a young mutant with powers that are nearly identical to those of Peter Parker has taken up super-villiany. The crimes aren't outlandish, or greedy, they are all petty thefts, and none of them involve anyone getting injured. This guy could even run aroung in a cheap, storebought Spidey suit.
Spidey is on the lookout for him, as the Bugle is having a field day with this. MJ (YES, I STILL OPERATE IN PRE-BND WORLD) has just discovered that she is pregnant, and doesn't know how to tell Peter, as it will cause him to feel conflicted about being Spidey. Peter has a run-in with a major baddie, and a huge fight ensues. During this fight, the imposter runs up on it in his suit, and casually site on the sidelines, observing Spidey and his moves.
In the fight, some rubble ends up falling to the ground, and the imposter Spidey ends up saving the would-be victims. Spidey sees him do this, and, after tagging him with a tracer and defeating the baddie, he follows him to his home, ready to dish out a stern butt-whooping!
Upon arriving, he sees he's at a small, rundown project apartment house, and that the boy has an elderly mother. Peter thinks back to Aunt May, and decides upon a different action. He goes in as Peter Parker, and confronts the boy about how he saved a man's life at the battle. Peter eventually tells him that he has a great power, and that, with that must come great responsibility. Peter then leaves him a gift: A suit and webshooters.
Cut forward a few weeks later, and we see Spider-Man on the news, battling another villian. MJ is watching on the television, and begins to cry a little. Then, we see Peter walk up behind her with flowers. They talk and Peter explains everything. Mj tells him that she's pregnant, and they get to live happily ever after, while Spider-Man lives on.
