Well, since we've had the spoiler tag already....I haven't gotten my copy of 700 yet, but have the jist of what happens from all the online chatter. Needless to say, I'm not too happy either. I know things will likely get back to the status quo eventually, but to me, if it isn't Peter Parker (and I mean real Peter Parker), it isn't Spidey.
I'm usually fairly open minded about comic book changes, or at least trying something new, because I understand that these characters have been around 40, 50, 60 plus years, and you have to do something different sometimes. So many stories have been told so many different ways already. From that standpoint, I understand what they're doing. And, again, I'm sure it will go back to normal eventually. I just find it sad that you can't buy a single book at Marvel now, whether it is Ultimate Comics Spidey, Amazing (now Superior) Spidey, Avengers, team up books, etc. and find Peter Parker. They killed him in the Ultimate U, and now in the regular Marvel U, happy 50th birthday Spider-Man!
Like I said, I'm usually pretty open minded/positive about things, but I can't say I like this too much. Plus, the further it gets into various relationships (MJ in particular), the creepier it gets. I'm a nearly lifelong fan/reader of Spider-Man (my first comic was Amazing Spider-Man at age 5), he is my favorite pop culture character, but the main reason for that is the man behind the mask (Pete). I'll miss that aspect of things, and hope it returns sooner rather than later. It is a shame really, because I've really been digging a lot of the Marvel NOW stuff otherwise, but my favorite character they decide to kill off.