Hobgoblin I:PL: 10
Str 12 [28] (+1/+9) Dex 12 [16] (+1/+3) Con 12 [20] (+1/+5) Int 16 (+3) Wis 18 (+4) Cha 16 (+3)
Skills: Acrobatics 4 (+7), Bluff 8 (+11), Diplomacy 4 (+7), Gather Information 6 (+9), Intimidate 6 (+9), Investigate 4 (+7), Knowledge [Current Events] 6 (+9), Knowledge [Streetwise] 6 (+9), Pilot 8 (+11), Profession [Reporter] 4 (+8 ), Notice 6 (+10), Search 4 (+7), Sense Motive 4 (+8 ), Stealth 6 (+9)
Feats: Acrobatic Bluff, Attack Focus (Melee) 3, Attack Focus (Ranged) 2, Connected, Contacts, Distract [Bluff], Dodge Focus 4, Evasion, Fast Overrun, Favored Environment [airborne] 3 (+1 attack/+2 defense), Improved Initiative, Move-By Action, Power Attack, Precise Shot
Powers: Enhanced Feats 6 [Beginner's Luck; Eidetic Memory; Jack-Of-All-Trades; Luck 3]
Container [
Modified Goblin Serum] 7
-Enhanced Strength 16
-Enhanced Constitution 8
-Enhanced Dexterity 4
-Enhanced Feats 2 (Endurance; Improved Initiative)
-Super Strength 2
Device [
Goblin Costume] 4 [hard to lose]
--Blast 10 (Power Feat: Accurate)
--Enhanced Feat 1 (Equipment [comm-link; gas mask; remote control for glider])
--Protection 3 (Extra: Impervious)
Device [
Goblin Glider] 5 [easy to lose]
--Flight 5 (Flaw: Platform)
--Strike 8 [glider wing-blades] (Extra: Penetrating)
Device [
Pumpkin Bombs] 7 [easy to lose]
--Blast 10 (Extra: Explosion); (Flaw: Limited-half explosive range [treat as rank 5 for area affected])
-Alt. Power: Obscure 8 [visual-smoke]
-Alt. Power: Nauseate 6 [gas ghost] (Extra: Area [Cloud])
-Alt. Power: Strike 2 [razor bats] (Power Feats: Extended Range 5, Improved Critical 2,
Mighty)
Saves: Toughness +8*/+5 [*Costume]
Fort +8
Ref +6
Will +6
Combat: Attack +6 /+8 (ranged grounded)/+9 [melee grounded]/+9 [ranged airborne]/+10 [melee airborne]
Damage +9 (unarmed)/+10 (pumpkin bombs)/+11 (razor bats)
Defense +10 [grounded]/+12 [airborne] (+3 [grounded]/+4 [airborne] flat-footed)
Initiative +7
Costs: Attributes 26+ Skills 19+ Feats 22+ Powers 93+ Saves 8+ Combat 24= 192 pts. 
So here's my version of the first Hobgoblin, Ned Leeds.

Most the differences between his goblin based powers & gear come from changes he's made to Norman's gear once he got ahold of it. Otherwise it's pretty much the same build just some minor changes, Hobgoblin's stronger than Norman and he developed the gas ghosts for the bag of tricks. Well that and there's no smoke from the glider, that was a total Norman trick.

I gave Hobgoblin the Enhanced Feats stuff as powers in the idea that he was a very intelligent person who could quickly gain an understanding of priciples & ideas if he applied himself to learning them. Things like chemistry & mechanics so that he could develop his gear from Norman's notes for example.

As far as combat goes Hobgoblin isn't accurate as Norman, but he makes up for it with damage and most of that comes from his higher strength. Which was said to be pretty much equal to Spidey's. Though Norman is without a doubt a better rider of the glider and it shows in the differences of the defense between the 2 of them.