One of the good things that Crime and Punisher does is mostly avoid the various BND subplots and just tells some good Spider-Man stories but, again, none of them need a single Peter Parker in my mind. Of course, a few BND plots do pop up, but they are mostly the ones that I do like, such as Mr. Negative and the Front Line paper.
The rest of the trade is about the criminal underworld so it doesn't really fit in with the other stories and Flash ends up having both of his legs amputated, which, given the incredibly impermanent nature of Marvel comics, makes the whole thing seem off to me. This is also re-enforced by the fact that Guggenheim juxtapositions Flash's flashbacks with some flashbacks to some of Spider-Man's adventures, which, again, makes the whole thing feel out of place. So, in summation, Guggenheim does a good job with the material and subject matter but it's awkward in the context of the Marvel Universe and comics on the whole.
The art by Rivera is also a wonderful treat. It's got a cartoon-ish vibe to it, which I liked, and he handles all of the various aspects of the story very well. He is also one of the few artists that I've seen that can make Spider-Man's mask emote, which I definitely enjoyed. All in all, it's a surprisingly good and unexpected story that displays Wells's and Rivera's talents as creators.
Kelly does a wonderful job of presenting Hammerhead as an actual threat to Spider-Man without making it seem contrived. He mostly does this by having Spider-Man underestimate Hammerhead though Kelly also leaves open a way for Spider-Man to win that, again, isn't contrived. Kelly also presents a reformed Hammerhead, as it were, from the 'classic' one that was in Death Of A Wise Guy. This also helps to adds the new threat that Hammerhead has become. Kelly does all of this in a relatively small amount of space given that the story only lasts two issues. The ending is a little on the weak side but it's still pretty good.
In addition to being visually striking, it also helps to create a nice subdued tone and mood to go with Kelly's story, creating a nice synergy between the writing and art. He also makes good use of some white space backgrounds which I think works very nicely with the colour palette.
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