IMO, while I do recognize some of the 'so-called flaws' with ASM, they do absolutely nothing to diminish my overall enjoyment of the movie. Way, way, too many positives with this entry.
The argument about the Untold Story not being told in one film is just silly imo. This set of Spidey flicks is being used as a series and the Untold Story will be played out over the course of several movies. Webb has talked about this before. Peter will discover more about his parents with each film and as certain aspects of one movie are resolved it will open up more to discover. I like how this is playing out.
ASM is not a rehash of SM1. There are similar sequences of course, but what'd you expect since they are both based on the origin of the same character. ASM provides enough of a difference thru it's story, characters, and tone. Whether or not ASM should have been another origin story or started at another point in Parker's life is debatable though. Still, I find ASM to be very pleasing and while it could have been a better overall film, it does have everything I have wanted for a Spider-man movie.