In addition to tasting horrible and having a disgusting flobbedy texture, spam sometimes has this jelly in the corners/edges of the cans which has a really lurid pink or blue colour, which is suggestive of a chemistry in its production which makes me very suspicious. Although the original production of spam predates mechanised meat separation processes such as mechanically recovered meat
http://en.wikipedia.org/wiki/Mechani...recovered_meat, and advanced meat recovery,
http://en.wikipedia.org/wiki/Advanced_meat_recovery, it looks like the kind of stuff which might be made this way today. Both of these are so far removed from what you would like to happen to food you eat, and in general make one suspicious about what bits of animal are actually in it, that I will not eat anything that even resembles it today if I have any choice in the matter.