I was thinking of the same thing prior to Spider-Island even starting; and I even thought that Peter might just end up making a new jamming device in order to "cure" people, not just eliminate the spider-sense, but all the powers. He would just need a very high place to put something like that up, such as the top of the Empire State Building as shown in the cover for Amazing Spider-Man #672.
Such as delivery system--like the spider-sense jammer, perhaps? Also, I'm guessing that since Anti-Venom is the only one who can cure people of their spider-powers, he'll be the one who winds up sacrificing himself for the greater good. After all, what Julia Carpenter said suggested that either Venom or Anti-Venom was going to die, and it's pretty much a no brainier who that's going to be considering how one of them currently has an ongoing series and the other doesn't.
In fairness, I realized that had Spider-Man rebuilt that device used on the Slayers, he would also stun or cause pain to a slew of empowered people who either aren't rampaging or are doing good, like Carlie or Shang Chi. Maybe he could do a smaller, hand-held version with a smaller radius? But, whatever.
That's an interesting call about whether Venom or Anti-Venom would die. I'm not usually a fan of an event that has to provide a Designated Corpse in order to be "important". What makes a story important is how the audience receives it and the aftermath from subsequent stories that it leads to. That said, as others mentioned, the Flash Thompson incarnation of Venom is starring in a modestly successful (for now) spin off ongoing series which should be running after SPIDER-ISLAND is finished. It actually happens to be the most critical of the tie-in's so far, as it revealed who Spider-King was (which ASM has yet to).
I have seen the argument that "Eddie Brock is Venom", but my opinion on that doesn't really matter to a degree - Marvel no longer believes so. They have spent the past 5+ years taking the symbiote away from Brock to slap onto other characters, such as Mac Gargan and now Flash Thompson. Gargan spent years as Venom, and Thompson's series should likely see a 12th issue at this rate, if not more. Thus, Marvel currently believes that Venom is whoever has that specific alien costume, which makes Brock a bit disposable.
It reminds me of a reverse Ghost Rider, if you think about it. Like Ghost Rider, Venom has become an identity that multiple people have utilized - and technically, this wasn't a new thing as Brock's ex-wife briefly wore the costume as "She-Venom" in the late 90's. Her time bonded to it actually traumatized her enough that she killed herself years later. Thus, like Ghost Rider, editorial believes that one of the strongest appeals to Venom is his visual - a claim Todd McFarlane usually cites when he wants more credit for co-creating him in the 80's. However, Marvel has spent several years claiming Johnny Blaze, the original GR, as the most iconic and the one they use the most. Sure, a new female version is GR now, but Blaze is still depicted as the "true" legendary one. Every unique aspect that the Dan Ketch incarnation brought - from the spiked leather jacket to the chains to the Penance Stare to even a hellish looking bike - Blaze "absorbed" and made his own like they were always his (especially after the 2007 film), leaving Ketch a husk without any details that make him unique aside for hair color and angst. Blaze is the Hal Jordon of Ghost Riders to Marvel, if that makes sense. However, they do not feel the same about Venom. And given that the Brock version was so mixed up via inconsistent writing and 90's over-exposure, it's likely no surprise that the Flash version has been so compelling. Even if it does borrow from the "what happens when you stick the alien on someone who isn't insane" motif that was previously used with Hybrid and Toxin (the latter also starred in his own series this decade).
I actually like how Slott writes Brock as Anti-Venom. While the method and explanation as to how Brock still her symbiote-like powers is a bit dodgy (Martin Li touches him and that's it, really), it allows him to retain a similar power set and appearance without being Venom. I also like the angle that Slott is trying to merge all of Brock's stories while playing up the fact that he isn't the picture of sanity. He's trying to do good, fight evil and save the innocent, but because of his violence and his past crimes, he's seen as unstable by everyone. He's battled heroes and villains alike, after all. Yet he's so eager to be taken seriously as a vigilante by Spider-Man that he almost seems cute at times, even as a large nasty monster. He's turned up in the Revengers organized by Wonder Man and one must imagine he'd be tickled pink to be accepted on ANY superhero team, even a misguided one such as that. I actually see a lot of potential in him as a reoccurring guest character, and thus I don't think sacrificing him would maximize that potential.
The only way I see it working as it would complete the subplot that Slott started with him during the prior arc; that despite his past crimes, and despite being violent, misguided, and psychotic, Eddie Brock is sometimes correct, and does sometimes have the right idea or is on the right course. The issue is nobody believes him or backs him up. Thus, the idea that Spider-Man accepts that in a major story again, at least for the first time since the 90's "lethal protector" era, could be interesting. A "noble sacrifice" story could work for Brock if executed properly. And there'd be nothing preventing him from reviving later. He could just "grow" an anti-venom for death if Slott was that dead set.
Still, I see a place in the Marvel universe for a psychotic vigilante who actually manages to dig up crucial dirt, but nobody believes because he's so insane - like the Question on "JLU" (who, in that series, was usually right about his bizarre theories when it mattered). Just with teeth. Many times killing a character off doesn't provide a punch or pivotal moment, but merely stifles character growth or potential stories to a halt until it's undone.
I was a big fan of Eddie Brock as a kid in the 90's and even into college. The misunderstood angle plays well with teenagers. But I grew up and started realizing how wonky some of his stories were, and all that. I have enjoyed the Flash Thompson version for the moment, and feel he has become a very good lead hero in his own right. The only way it'd be better would be if he met John Walker; two wounded warriors trading war stories, with secrets to hide. It'd be a solid one shot.