Well, I believe this rather decisively answers the question once and for all. The last conversation between Peter & Aunt May (via seance), from Sensational Spider-Man #39:
Ultimately, I think, as much as Peter would rage against the fact he could do nothing, at the guilt he felt for allowing things to happen...he would have accepted it, especially in light of this conversation. It's literally what Aunt May wanted of him.
But sadly, of course, editorial mandates made him outright do the exact opposite of her wishes to make himself feel better & avoid taking responsibility for the consequences of his actions.