There are references to other versions of 'Sandman' in this episode. One of the things Sandman wants to steal is The Urn of Morpheus. Morpheus is among the names of the DC/Vertigo Mystic character Dream of the Endless, whose book is called The Sandman.
Also, when Sandman appears before a little girl, she asks 'Mr. Sandman?' and he says 'Yessss?'. When Peter leaves Flash's party, the news first speaks of Sandman's robbery attempt, and then says it will play a classic oldies song by The Chordettes, whose big hit song was 'Mr. Sandman', where the line Sandman exchanged with the little girl came from.
This episode's theme song featured Peter Parker, Gwen Stacy, Harry Osborne and Flash Thompson.
This episode marks the first appearance of Mark Allan. His sister Liz mentioned him earlier in the season, in the episode "Blueprints".
Spider-Man: Sandy, you're pathetic!
Sandman: I'm pathetic?!
Spider-Man: Totally. With your powers, you could do some real good, help people. But you waste it on all the same stupid crimes Flint Marko committed.
Sandman: You really think I could be a hero like you?
Spider-Man: Well, yeah. I mean, with great power comes great...
Sandman: Gullibility! (Punches Spider-Man)
Sandman: How? How are you always wherever I'm doin' a job? What have you got, some kind of... Spider-Sense, or something?
Spider-Man: Funny you should mention that...
Eddie Brock: Hey, Flash. I hope you don't mind me crashing your party. Truth is: I plan on crashing a lot of parties this year. So if you run into my bro Pete, tell him we will see him soon.
Spider-Man: How am I supposed to beat up a beach?
This is reminiscent of a line from Gargoyles, where the Archmage says "After all, what have you accomplished? You beat up a beach."
Spider-Man: (After failing to defeat Sandman with his webs) Hey, worked on Goliath!
Spider-Man alludes to the classic biblical story of "David and Goliath," in which a young boy defeated a giant with only his slingshot.
Spider-Man: I must be losing it. Goblin, Venom, what's next? Sandman...
This is a nod to the events of the live-action Spider-Man 3, where Spider-Man fought the New Goblin (Harry Osborn), Venom and Sandman.
Spider-Man: (While facing a giant Sandman) Okay, how tough can this be? All Jack needed was a beanstalk and an axe.
This alludes to the classic fairy tale of "Jack and the Beanstalk" in which the titular hero defeated the giant by chopping down the beanstalk it was climbing down on.