I think the "code" works better for characters like Superman or The Flash, or Aquaman, where taking a life is really, really, really easy for them (especially Superman, who could kill someone by mistake).
I think Spider-Man is one of the few heroes who always languishes in the morality of his actions, which makes sense. It's hard making a choice only to have it eat away at your conscience -- or like The Flash told Superman one time, "what happens when you decide to just keep taking lives?"
I think for Batman it seems a bit redundant and maybe even hypocritical (he's okay laying people up in the hospital for the rest of their lives, paralyzed from the neck down, but won't kill). I think the Nolanverse Batman was a little more reasonable, insofar that he didn't deliberately kill anyone but didn't go out of his way to save villains either.
For Superman, though, it would be real easy to start turning villains to gib at the blink of an eye and start pulling some Omni-Man stuff where killing is no bother. I find it more compelling to have Superman's villains act that way while he finds a moral ground to maintain order and peace.
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