If the police are a threat against the Lizard, that makes him even less of a threat then Kraven facing off against the Lizard.The reason why Spidey is needed is because his villains run circles around the cops most of the time. Peter would be more afraid of the cops getting killed. He would of course try to save civilians, but then the only real threat is the time limit. Peter needs an obstacle to prevent him from reaching that time limit. With Kraven in play, it becomes more then just a matter of just reaching the Lizard and trying to change him back to Connors. Kraven would really raise the stakes.
Not at all. A platoon of SWAT officers using heavy weapons (The only thing that can pierce the Lizard's hide) is a whole helluva lot more threatening than Kraven. And who's to say that they can succeed? But they'd keep going after the Lizard, using heavier and heavier artillery, threatening to eventually kill him not to mention doing great damage and even threatening innocent lives. There could be a SWAT Captain that becomes so obsessed with taking the Lizard down that he becomes as much of a threat. And Spidey would have to try and stop it.
Jonah and the authorities really would not cover that. You need a William Dafoe or someone like that to ooze menace. Baker would play the sympathetic villain, but an evil threat creates a better balance. And I personally always felt a more raging Lizard is more scary then a talkative and planning Lizard. The Lizard is interesting to me mostly because it's Connors underneath. Kraven is interesting just in his dynamic as a villain and character.
Kraven is just a nut. He should be used in a story where he's going after SPIDEY (Who we know was his obsession in the comics) not The Lizard. And focus on Connors/Lizard like a Jekyll-Hyde conflict is plenty. And i said nothing about a "talkative-planning" Lizard. He should speak, but not be running off long sililoquies. He should be raw power causing great destruction. In the face of that Kraven and his bag of tricks wouldn't stand out. And like i said, there could be a cop character that would be so driven to stop the Lizard, that he himself becomes a danger to both the public and even those in his command.
But you just said that they should have points where he's only partially the Lizard to show Connor is struggling. If Connor is able to fight the beast within that alone makes the Lizzard not unstoppable. These feel like very contradictory positions.
I said Connors would be fighting from within. But of course the Lizard would be winning the battle. So Connors wouldn't be stopping the Lizard. But his struggle would add both sympathy to his story without making THE LIZARD sympathetic. and give it a dramatic element.
And like it was mentioned, Kraven isn't a pushover. Just because Kraven can get close doesn't mean Spider-Man automatically can.
Of course it does. Spider-Man is more powerful than Kraven on all levels. Look at EVERY FIGHT between Spidey and Kraven. "Last Hunt" is the only story where it took Spidey more than one issue to defeat Kraven. And only because Kraven staged an elaborate trap using many henchmen and Spidey was written to be an idiot ("A GUN????"

). In ASM #47 Kraven merely escaped and in ASM !03 & 104 Spidey and Kraven don't even fight.
So to have Kraven get close to the Lizard with his not being nearly as fast or as agile makes it a foregone conclusion that Spidey could get to him. Spidey can dodge bullets. Kraven can't.
Especially since Kraven is more likely to use his traps and skills to get close, not anything Spider-Man has available. Not to mention Spider-Man will probably have been injured or worn out after a fight with Kraven. They always milk worn out Peter in these movies anyway, and it would be even more intense if Spider-Man is half dead after fighting against Kraven and has to go against a fully transformed and recovered Lizard.
So Spidey, who has defeated superhuman threats like Goblin, Ock, Sandman and Venom gets "worn-out" fighting a guy with no powers? Not believable.