Very reminiscent of the cover by Ramos for ASM #648, which was the beginning of the Big Time storyline. As that started a new direction for Spider-Man, I find it very applicable albeit a bit simple.
For a free comic, and one about Spider-Man, this is top notch. It's definitely meant for new readers, but it gives current readers of ASM some terrific moments as well. It should be obvious by now if you've been reading ASM (and if you haven't, it's mentioned herein pretty quickly) that Spider-Man has lost his spider sense- which was done pretty clever in ASM, by the way, but I digress. I feel that this disadvantage for Spider-Man was very much emphasized here and it is what made the comic work. Furthermore, having Madame Webb carry the tale allowed Slott to describe Spidey's past, present and future in an extremely well manner, so that was a job well done!
I really would like to know how Spidey's training is going to play out in the main ASM series. In other words, is this issue inconsequential or will Parker actually have those skills he acquires after training with Chang-Shi (and will it at least be referenced later or just completely ignored as if it never happened in continuity). Hopefully, the Way of the Spider sticks around and we see it fully implemented into the way Spider-Man fights. I'm not saying he has to turn all kung-fu on his enemies, but that he is at least shown to have more discipline in his fighting style due to the rigorous training. Who knows? This isn't so much a bad thing for the issue, but what has the potential to be a bad thing if Slott chooses to ignore something he wrote himself.
This was my first FCBD ever, and I was astounded at the quality of some of the comics (didn't care much for DC's reprint- seemed kind of a waste). If all issues continue to be of this caliber, then it is going to accomplish its ultimate goal, which is to get new readers into the local comic book stores. I highly recommend this issue in particular to anyone that has ever wanted to get into comics, and especially to anyone looking for a great Spider-Man story.