A fellow panelists has an interesting idea of taking a comic that you think needs to be fixed and put your all star (wish) team on the book (good idea Shawn!)
I would have to pick Amazing Spider-Man. I loved this character years ago and have enjoyed many of his adventures over the years, but lately with JMS and his making Spider-Man one of many, the Gwen Stacy debacle and with Spider-Man joining the Avengers - the character has become unrecognizable. Add too that the 1,000 year old Aunt May and his unmasking and you have a character whose core has been destroyed.
With that as a preamble I would first reduce Spider-Man down to just one book and make it an 18 times a year book. Also Spider-Man would have to have a secret identity again and leave the New Avengers. My choice for writer would be Robert Kirkman or Gail Simone. Robert Kirkman because he has done such a wonderful job with Invincible that I think he could do a great job with Spider-Man. Also he is a younger married guy himself in real life and would be able to write a realistic married couple (which seems to be missing often in Spider-Man). I also believe Kirkman could chart a course where we have growth in the character and have good sub-plots advancing the characterization. Gail Simone would be another great choice in my mind as she writes great action sequences and injects humor into almost all of her books. Spider-Man has lacked a true sense of humor for what seems to be years to me. Gail also would bring a new perspective to the characters and would probably be able to give Mary Jane a better role in the book. Both writers have made up some great villains and mange to have great battle scenes and still provide characterization and sub-plots.
My artist would be Alan Davis. Now getting that many issues out of Alan would be impossible so I would also have to have a second artist and that would be Phil Jimenez. Alan Davis has a fluidness to his drawing which I think is essential for Spider-Man and Jiminez is one of the best super-hero artist in comics.
My editorial direction would be to re-establish Spider-Man as a hero (not Charlie Brown) but a hero who does the right thing. Also I would mandate that Peter Parker be allowed to move forward, Aunt May dies of old age, Peter and Mary Jane confront having a family or not and the characters slowly get into their late 20's early thirties. Otherwise just let me know your outlines and have a blast.