Literally, everything was identical to the first. They set up Andy as a dork in high school after his earlier years of going to live with his Uncle and Aunt following a break in at his dad's scientific research office. He gets bitten and wakes up uncertain of why he is acting so strangely. Goes to school and gets revenge on the school bully. The mentor he was confiding science gobbledigook ends up being the bad guy he's chasing.
I can't believe I'm admitting this but some scenes did get me to tear up so that has to speak to something. Maybe when the city of New York banded together to help Spidey it just reminded me so much of the ending to Ghostbusters 2 when everyone sings along with Lady Liberty so the pink goo goes away that I couldn't contain myself.
It is entertaining though so you won't be disappointed at all but if you're going to be bothered but the similarities you may want to hold your money till it comes to video.