This annual contains two stories. The first and longer story deals with Spidey's attempt to rescue little Normie Osborn from a faction of the Scriers. The second story involves a battle pitting the Sandman against Silver Sable and the Wild Pack.
The plot begins with the Sandman trying to rob the Davis Gallery of an alien artifact. However, Silver Sable and the Wild Pack are there to battle him. Throughout the battle, the Sandman is telling them why he has gone back to being a villain. The Wild Pack eventually shoots the Sandman with some type of high-tech weapons, and he flees. The story ends with Silver Sable concluding that the Sandman has really turned to evil while the Sandman thinks of how he should try and kill Silver Sable.
Sandman now looks like something out of Spawn, because the Wizard has taught him new ways to use his sand power. The big explanation the Sandman gives Silver Sable of why he has gone bad (and why years of character development has been abandoned) is "Bein' Bad's the biggest high ever! Playin' hero is for suckers!" Compare this story with the superior characterization and artwork of the Sandman and Silver Sable in Webspinners #17-18 and you will realize how far the Spidey stories have fallen recently.
Al Sjoerdsma is on target when he writes: "Reverting Sandman to his former evil self is a bad idea that is made worse the more they use the character. I cling to the hope that the whole thing will be revealed as a brainwashing by the Wizard. If not, then I'm not interested in this two-dimensional character."