Good news, it doesn't suck. Bad news, it's **** too short.
The story follows this whole saga about this evil suit that spawns Venom out of Peter Parker's childhood friend, Eddie Brock. An evil corporation (go figure) capture Brock, and try to get him to control the suit. Along the way, you'll encounter a lot of Spider-Man, including Rhino and a Hulk-like Green Goblin, along with cameo characters Johnny Storm of the Fantastic Four and Wolverine of X-Men.
Simply put on the graphics, if you don't like cartoon (or comic) like graphics (the cel-shaded look), stay as far away from this game as you possible can.
If you do, you'd be in heaven here; the look suits a Spider-Man game very well.
The gameplay is good (not great). My only problems were that it's was so much into the side-missions instead of the story missions, and playing as Venom wasn't as fun as everyone thinks would be. By that, I mean that I'm not really into playing as 800 pound character. I honestly enjoyed playing as Spider-Man more. However, the overly repeated side-missions almost ruined the whole game for me.
The core gameplay take only 4 hours to complete. Activision is so lucky that they've put out a good game, because I would have broken that damn disc otherwise. No game this short have been so fun since that first Metal Gear Solid. But since it is short and not everything in the game is fun, 7.8 is a fair score in that case. Hey, if you a comic book freak, who stopping ya? Play the game and you won't be (too) disappointed. Otherwise, go to Blockbuster or use Gamefly first.