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I've seen many interpretations of him made (i.e. Hormagaunt arms as legs or simply a Libby stuck on a spider queen from LOTR) but i'm wondering what would be the best and most accurate way to make him?

If you've already seen a variety of ways to model him, why not just go with the version that you like the best? Aren't there goblin spider riders in WHFB? You could use those as a component. Or go with the Hormagaunt limbs if you want. Either way, follow your own judgement on the matter.

There was a kick-ass conversion i've seen somewhere on dakka lately.

The gobbo spider as lower body with a terminator upper torso and arms. With enough greenstuff around the edges you'd think the models were supposed to be assembled that way, it looked pretty natural (as far as a warp-mutated spider-spacemarine centaur can be considered natural).

BAM! Google fu!

You're welcome!
http://fromthewarp.blogspot.fr/2009/06/sarpedon-collected-pics-and-progress.html

Also

http://www.dakkadakka.com/dakkaforum/posts/list/398815.page

http://www.dakkadakka.com/dakkaforum/posts/list/395557.page

Was this it Kosake?

http://www.dakkadakka.com/dakkaforum/posts/list/396827.page

This is also cool!
http://www.dakkadakka.com/dakkaforum/posts/list/423430.page

No, and I can't find it but your's is probably even better, Flying.