PREVIOUSLY: Peter Parker's life over the past few months has been hit with constant waves of turmoil and torment, and events that have transpired during that time have directly and indirectly led to the demise of his beloved Aunt May, his clone Ben Reilly, and his newborn daughter. The pinnacle of all these events has undoubtedly been the return of Norman Osborn, the original Green Goblin, who had been thought dead since the fateful night where he was impaled by his own goblin glider during a deadly battle with Spider-Man. Not only was Norman revealed to be the mastermind behind the whole clone saga, he was also responsible for the murder of Ben Reilly during the fateful all-out battle that took place in Peter Parker: Spider-Man Volume 1 #75, the conclusion to the long-lasting ill-received clone saga.

Now, weeks later, Peter tries to re-adjust to a semblance of a normal life. However, he is well aware that it is only a matter of time before Norman Osborn strikes again, despite his apparent demise in the above-noted issue of Peter Parker: Spider-Man. Meanwhile, he can only continue to do what he does best and that's fighting crime and saving lives.

In Spectacular Spider-Man #242, there is a brief confrontation between the Kangaroo and Spider-Man, resulting into another humiliating defeat for the super-villain. In another part of town, the Chameleon betrays Dr. Ashley Kafka and turns against her, despite the fact that she was responsible for his escape from Ravencroft Institute. Soon after, while impersonating Dr. Kafka, the Chameleon lures John Jameson into a trap and shoots him. Later, the Chameleon uses a fake holographic projection of Dr. Octopus attacking Peter Parker to lure Spider-Man into an even bigger trap. When Spider-Man awakens a short time later, Dr. Kafka confronts him and, as she removes his mask, explains that his name his Herbert Filmore Smith, a science-fiction author who recently suffered a trauma, which has caused him to retreat into a delusion that he is the superhero known as Spider-Man.

In Spectacular Spider-Man #243, it is revealed that John Jameson was not killed after all, as he was wearing a bulletproof vest at the time of the shooting. Deducing that it was the Chameleon in disguise that shot him, he prepares to head back to Ravencroft to check up on the real Dr. Kafka but is stopped in his tracks by the nefarious Jack O'Lantern, who seems to have taken, as of late, a particular liking to the Jamesons, both son and father. John is attacked, right there and then, only to be find safe and sound, with no apparent memory of the attack, a short time later by the real Dr. Kafka. The two head out in search of the Chameleon, unaware that Jack O'Lantern is watching them from afar.

Mary Jane Parker is sitting in bed, reading a book, while pondering about going to back to college to major in psychology. Peter, as Spider-Man, arrives home via the skylight and, after checking with her to make sure the coast is clear – Aunt Anna Watson is gone for the weekend – Peter drops down and kisses his wife. Then, they proceed into the kitchen where Peter relates his recent encounter with the Chameleon and the fact that he knows that Peter Parker and Spider-Man are one and the same. Mary Jane is unfazed at this revelation, commenting that other villains know his secret and that they have endured more than most people ever do in a dozen lifetimes. She is confident that they will once again survive, just as they did in the past, because they have each other. Peter tries to argue but MJ tells him that she is not going to live in fear any more. She pulls his mask back down on his head and tells him to go catch the Chameleon and kick his butt.

The Chameleon cannot believe his eyes. Standing before him is none other than Kraven the Hunter. Freaking out – after all, Kraven is supposed to be dead, having shot himself in the head – the Chameleon tries to run away but "Kraven" snares him around the neck using his whip. "Kraven" starts dragging the Chameleon casually behind him and comments on his recent escape from Ravencroft, deeming it something to be proud of, only to subsequently criticize him for failing – again – to destroy Spider-Man at his weakest and most vulnerable state. Struggling to breath, the Chameleon tries to convince himself that he is hallucinating, that "Kraven" only exists in his mind – a projection of his subconscious. "Kraven" replies that perhaps he is a projection of his mind, that – in many ways – he is at the core of his madness. As "Kraven" continues to drag the Chameleon into the trees, he asks the Chameleon if he conjured him up as a way to confront his inner demons and find sanity. Still baffled, the Chameleon concludes that "Kraven" is an hallucination, despite "Kraven" seemingly implying otherwise. "Kraven" comments that Dr. Kafka did her job well; however, she was not able to do much for his (the Chameleon's) self-esteem. "Kraven" continues stating the obvious – that the Chameleon was hoping to destroy Spider-Man so as to provide himself with some sense of personal power. The Chameleon replies that he is right, of course, because he ("Kraven") knows everything about him. "Kraven" tells the Chameleon that he should welcome his presence for he has come to free him from his tiny thoughts and fears and widen his wisdom. As they disappear into the forest, the Chameleon still believes that "Kraven" is but an hallucination.

Flash Thompson and Betty Brant are out walking in the rain and talking about life in general, though they focus specifically on Flash's, who has gone through a rough patch in the last few months. Since quitting his job at the youth center, Flash has been depressed and has turned to the bottle for answers. He got scared however, because he realized he did not want to turn out like his dad, who is an alcoholic. Betty tries to encourage Flash by telling him that he will not end up like his dad. Flash agrees that he will not let it happen and tells Betty about his new job teaching gym in New Jersey. Betty congratulates him, expressing that she is excited for him. Flash goes on telling Betty that he ran into Spider-Man and that it was he that inspired him to get his life back on tracks. Betty tells Flash that he can add her to his cheering section anytime because she will always be there for him, as a friend. Flash then tells Betty that he feels bad that she has to walk back to her apartment, which is across the city, so he invites her to crash at this place, but she interprets his invitation as him putting the moves on her (which Flash denies adamantly). Ticked off, and calling him a testosterone-craze jerk, she storms off into the night, leaving a dejected Flash to contemplate getting wasted.

At Ravencroft, Dr. Kafka and John Jameson are trying to pinpoint the location of the Chameleon's hideout. They identify thirty-five possible locations scattered across the city. Dr. Kafka wants to check them out as soon as possible before word of the Chameleon's gets out. Just as she and John are discussing her involvement into the Chameleon's escape, Edward Whelan (a.k.a. Vermin) shows up and informs Dr. Kafka that word of the escape has in fact been leaked out all to the way to Washington and that she is wanted on the phone. Storming out of the office along with John, Dr. Kafka tells Edward to stall the caller until she gets back...with the Chameleon. As she and John leave the institute, they are unaware that the Jack O'Lantern is watching on from nearby, commenting that John Jameson's already busy life is about to get a lot busier once he is done with him.

At the Parker apartment, Mary Jane wakes up from a bad nightmare involving the Chameleon. Somewhat scared that the master of disguise may come after her – since he knows that Peter and Spider-Man are one and the same – she grabs a baseball bat out of the closer and goes back to bed. If the Chameleon decides to strike, she will be ready for him and not afraid to do what is necessary to defend herself.

Spider-Man is circling the New York City skies, trying to pinpoint where the Chameleon is hiding. As he does so, he thinks about Mary Jane and what she means to him and how strong she has been for the both of them over the years. After swinging around for a while, his spider-sense suddenly picks up, warning him that he is closing in on the Chameleon. When he realizes where the Chameleon is hiding, he feels sick to his stomach that he would have chose that "place" to hide.

That "place" is revealed to be the brownstone where Kraven the Hunter took his life. Inside said brownstone are "Kraven" and the Chameleon. "Kraven" comments that to some, his death was a coward's death, while to others, is was a death of honor. Grabbing the Chameleon in a chokehold and lifting him off the ground, "Kraven" asks what he thinks of his death. The Chameleon replies that he was his friend – more than a friend – and that he looked up to him. "Kraven" tells the Chameleon to stop hiding behind his mask and speak the truth, for once in his pathetic life. Ticked off, the Chameleon slams his two fists on both sides of "Kraven's" head, telling him that he was a monster, a self-absorbed animal, and that he hated him. He then sends him crashing to the ground and follows his sudden attack with a kick in the face, telling "Kraven" that he tortured him all his life, ever since they were boys. Continuing his brutal beating on "Kraven", the Chameleon goes on saying that all he ever did was try to please him, to make him accept him, to prove that – in some small way – he was his equal; however, "Kraven" never cared. The Chameleon explains that, when he found out "Kraven" had killed himself, he was glad that he died in such a cowardly way, glad to be finally rid of him. Suddenly, "Kraven" grabs hold of the Chameleon's ankle and sends him crashing into the ground, calling him a boot-licking today, a lowly serf. "Kraven" tells the Chameleon that he should not expect to be treated like a human because he comes from the gutter, like a common piece of trash. "Kraven" goes on explaining that the special bond that they have shared over the years is due to his need to keep him (the Chameleon) near so as to constantly prove his superiority. The Chameleon begs "Kraven" not to hurt him. "Kraven" reveals that his fascination with the Chameleon and the reason to keep him close was because they were brothers, born from different mothers, but from the same father. "Kraven's" father always took what he wanted – and he wanted his servant-girl, Sonya, the Chameleon's mother – but he did not want the brat she came to bear. He did not want such filth to carry the Kravinov name; yet the Chameleon does carry that name. The Chameleon explains that their father used to beat the truth out of him, and terrified and abused him until he buried the truth deep in his soul, so deep that he did not even know it was there; but now he knows. As he says that, he realizes that "Kraven" is gone and realizes that he was just a projection from his unconscious, a way for his tortured mind to free itself of guilt and shame, and tell him the one thing he could never allow himself to know. He – the Chameleon – is not a faceless nobody, nor is he a worthless lackey. He is a Kravinov.

As the Chameleon exclaims the above, Spider-Man arrives on the scene but before he can do anything, the Chameleon points to a cage hanging from the ceiling, inside which Dr. Kafka and John Jameson are help captive. The Chameleon explains that the electrified cage is the one Kraven used to keep Vermin in and that he has not yet turned up the voltage. Yet being the operative word.

To be continued.