My sons (ages 6 and 4) love this new animated series, The Spectacular Spider-Man. The show is much better suited for younger audiences than Spider-Man's last animated series, which lasted only one season on MTV in 2003.
This series features all of Spider-Man's most famous villians, including the Green Goblin, Venom, Doctor Octopus, Sandman, Vulture, Rhino and Electro. In Volume 3, Peter Parker finds himself amidst more dangerous arch enemies, including the Green Goblin, Doctor Octopus and Tombstone.
If you absolutely must buy a DVD right now (birthday present, etc.) this is a good choice for Spider-Man fans. Amazon has the DVD priced $5 below suggested retail price ($19.95) and this is a good choice for young children who love Spider-Man.
The more economical decision is to wait for a DVD set release of all 26 episodes from Seasons 1 and 2, which should be priced around $30. It was announced earlier this year that Season 2 would move from the CW network to Disney XD. Season 2 is scheduled to begin in March 2009. However, the Spectacular Spider-Man ended production after completing the 26th episode (the end of Season 2). A third season might happen, depending on the ratings Season 2 gets on Disney XD.
In summary, I'd rate The Spectacular Spider-Man series five stars based on the entertainment value for young superhero fans. The shows are accessible without being too scary or adult for the under-10 audience. However, by marketing the first season into four DVDs, I deduct two stars. The series is overpriced, especially in light of the current economy.