Aunt May Parker is dead. In the beautifully-written Amazing Spider-Man #400, she revealed to Peter she knew he was Spider-Man and died in her bed. Shortly after, Peter was arrested by Detective Raven from Utah for first-degree murder. Raven was recently attacked by Kaine, however and now knows it is Kaine - not Peter - responsible for the crimes. He has no idea who Kaine is, though. Jonah is paying Peter's legal fees anonymously. Meanwhile, MJ is pregnant, Ben Reilly has been trying to get her to trust him and a third 'Peter' is on the loose. The first Peter thinks Ben could be responsible for the murders he has been imprisoned for. All the while, the mysterious figures of Kaine, Scrier and Judas Traveller watch on.
Kaine says the third Peter is a killing machine solely created in Peter's image to kill Mary-Jane. Peter and MJ run off while Ben hangs around to counter the killing-machine Pete and Kaine. Traveller and Scrier still wait at the prison. The third Peter has mutated into some weird being and battles with Kaine. Kaine looks like he's killed him and is about to square off with Ben when the creature morphs again into a giant Peter.
MJ tells Peter to go back into action - which he does and Ben/Kaine/other Pete's fight comes to the street. Ben is annoyed, thinking Peter should be on his way home with MJ. There's a massive explosion after Kaine throws a vehicle at the third Peter. The first Pete pulls Ben out of the flames and Ben offers to take his place in prison. Back at the prison, Scrier asks Traveller if he anticipated that (yes). He says the tests of his sense of responsibility will continue.
The story itself is OK - sort of - it's just difficult to keep track of everyone and their powers etc. Who's a good guy, who's not, and so on. Things have gotten out of hand.