We heard rumors very early on that the Mary Jane Watson character would not be a part of the Marc Webb directed Spider-Man 3D reboot. Those rumors were put to rest when the casting process started, and it seemed like the studio was auditioning actresses for the role. There were discussions about Emma Stone taking on the role, but it turned out that she would actually play Gwen Stacey, which really doesn't make sense for the beautiful redhead actress, who I still think would have been perfect for MJ.
It's been confirmed by The Wrap that MJ is not a part of James Vanderbilt's screenplay, and apparently never was. "Evidently, there had been some discussions about Emma Stone playing red-haired MJ, but once she was cast as Gwen Stacy, the filmmakers decided to trust their instincts and stick with one love interest."
So there ya have it! One love interest for Peter Parker– I'm sure that will be enough to keep him busy. The film stars Andrew Garfield as Peter Parker, Rhys Ifans as The Lizard, and it was just announced that Sally Field and Martin Sheen are in talks to join the cast as Aunt May and Uncle Ben.
The film is set to start production in December.