The footage is long gone from Youtube, but it really sounds like the movie would have gotten a much needed shot in the arm by some of this stuff. The official version has absolutely no surprises in it, and elaborating on Connors/Lizard/Dr.Ratha would have added a bit of depth and mystery to an extremely generic story. Ifans' acting as Curt Connors was one of the best parts of the film, and it seems strange that Webb/Arad/Sony choose not to capitalize more on his performance and character arc.
Also, did anyone else feel that the violence was extremely toned down? I don't think Spider-Man dealt a single punch or kick throughout the whole movie, just a lot of net spinning, ducking, wrestling and throwing... The first two Raimi-movies had some excellent fight scenes, while ASM felt more like a Saturday morning cartoon desperately trying to please it's censors in that regard. Still, I really like the feel brought to the other scenes showing Spider-Man, the climbing and web-slinging felt much more physical and "real" than in the earlier movies and therefore also more fun and exciting. I at least hope that part gets carried over to the sequel.
Tone down ? he broke the lizard tooth,beat the shit out of the guys in the alley while in the wall. This movie alone had more fight scenes then all raimi movies.