Yes, the film is good. In fact, it's much better than Raimi's first film (we don't need to talk about the third film at all). The film may not be as good as Spider-Man 2, but then again, what is? Still, the film has set itself up well enough that the following sequels could in fact be better than the entirety of Raimi's trilogy, because the film does leave Parker a lot of room to grow with.

Hats off to everyone involved. Garfield makes a better Peter/Spidey than Maguire could ever have hoped to achieve under Raimi's taste for the over the top, Emma Stone continues to be lovely, Rhys Ifans makes for a sympathetic villain, and the most of the supporting cast is great (I like how Flash Thompson is finally a character).

The real hero of the film is Director Marc Webb though. The way he films the action scenes as well as the swinging sequences beats any of the Raimi films. Spidey moves like a real human, and not a CGI puppet, and the action sequence are clearly filmed. Most importantly, he never forgets the human element of the film, which is what makes everything in it work.

I did have problems in some areas, mainly the narrative in how a couple things played out, but they're passing things that don't completely matter in the grand spectrum of the film.

If they continue in the right direction, this could make for a great series. They have all the right ingredients.

Things I liked:
Andrew Garfield is great.
The supporting cast is also talented.
The human element makes for an enjoyable experience even when Spidey isn't around.
The action.
Spider-Man's relationship with New Yorkers (there's a very thrilling scene that tops Spider-Man 2's subway sequence for me).
A scene where Spider-Man helps a kid from a burning car.
Spider-Man ACTUALLY MAKES CORNY JOKES.
The best god damn Stan Lee cameo to date.

What I didn't like:
Some rushed/dropped plotlines, although there's a dropped one that I'm waiting to see if it continues to be developed in the sequels.
One or two plot holes that are pretty bad.
The death of a character that shouldn't be dead in the first film.