I think that if The Death of Aunt May were to be done, it would have been done by Sam Raimi. The OT dealt with an older Peter and May. I'm still not sold on this teenage Spidey idea. It sounds like they are going to cater to a younger audience. In my mind, that sounds like lots of action, little story. Especially not the type of poignant story that the death of May deserves.
So I guess the short answer is "no."