I'm a registered user of SpyderX 1.4. I have to say that initially, given all the MySpace spam it seemed like a good idea at the time. But over time I found that version 1 was very clunky: slow to fetch data even on a 6M/s DSL connection, and about as complex as using MySpace just from the web page.
I basically gave up on SpyderX.
For my needs I now run FLOCK, the web browser. The UI is a lot more simple [friends sidebar] and you can do everything necessary from a SIDEBAR. And not only with MySpace [read on].
So if you add Glimmerblocker [to filter ads] + AdBlock Plus [to get the insidious stuff] to Flock you pretty much have an effective social network wrangler that does not only MySpace, but Facebook, Flickr, and a bunch of other services.
Maybe the author has done some improvements, maybe he's more accessable to his users [this time], maybe... well, for me, as far as version 2 goes, unless it's a free upgrade for me.. I think maybe [based on previous experience with the app, keychain bugs, etc] it's a pass this time.