It certainly counts as one of the worst written plots of Marvel history (and there are quite some to choose from). Not to mention that it is the second time that a child of Peter and Mary Jane gets written out of existance. Geeze.
Actually that particular change was mandated through editorial. Joe Quesada, then Editor-in-Chief at Marvel had made separating Peter and Mary Jane his pet project, because he "felt" that Spiderman would be a better character if single.
It was pretty apparent that the guy was taking his own mid-life crisis out on Peter and Mary Jane and thus that abominable storyline was birthed. Yeah, thanks Joe, for having Peter destroy his marriage and give up his unborn child, so that his septugenarian aunt could live. I really don't think Aunt May would have been okay with this. >.<
Crest/Banner of the Stars
Ghost in the Shell
Macross Frontier
Macross Plus
Mushishi
RahXephon
Seirei no Moribito
Tecnhi Ryo-Ohki OVA
The Twelve Kingdoms