Who am I? You sure you wanna know?

That is the question which Peter Parker (Tobey Maguire) found himself asking in the first Spider-Man movie, based on the popular Marvel comic book series. And according to director Sam Raimi, that is the very question they are asking themselves.

Following the box office success of the first two movies, Spider-Man 3 will see the webslinging hero return to save the world from yet another villain who has the power to completely take over completely.

"We've finished a 50-page document and now I'm working with my storyboard artist to work out some of the visuals, Raimi said in a recent interview.

Among those on the Spider-Man 3 team is Alvin Sargent and Raimis brother Ivan, both who played a part in writing the screenplay for the sequel.

As for the villain which Peter Parker will face in the third installment, Raimi admitted that even he hasnt decided yet, but based solely on the dangling conclusion to Spider-Man 2, Harry Osborne (James Franco) will be a part of it.

"I actually haven't figured it out just yet," Raimi said. "I'm trying to determine Peter Parker's journey as a human being, what it is that he'll be learning on this next adventure, as a kid growing up, what life lessons (he'll experience). Once I know what that is, I'm going to try to develop obstacles in his path, like any dramatic writer would do. And out of those conflicts will come the drama. Either he'll be able to overcome these conflicts or he won't. But once I know his journey, and therefore the conflicts that are in his path, I'll choose that villain that best represents those conflicts. That's the way in which I've been approaching this, and I'm still not quite there in determining the villain."

Spider-Man 3 is set for release on May 4, 2007.