To me Superman's powers being pretty high is part of the appeal. Now how powerful that needs to be depends on the world around him.
If we are in the 1930's where a bunch of guys with machine guns was a major threat, then being strong enough to resist bullets and maybe a slight bit more was fine. Morrison largely had his New 52 in a world where that seemed to be the case. If you gave me his jeans and T-shirt Superman in a Metropolis where police wear hi-tech body armor and Intergang regularly uses blaster cannons and/or tanks it wouldn't work as well.
And to me part of the real appeal is the idea that Clark chooses to be a hero when there can be no pressure on him to do so. If he wanted to take something there is no force that could easily be brought to stop him. Sure maybe a fellow JLAer, but short of nuking Metropolis he should laugh at what the regular world (SWAT, military) could realistically do to him. Putting him an a classic Spider-man or Luke Cage power level undermines that. And so does stating that there is a laundry list of other heroes that outclass him.