Ranked in these QuestionsQuestion Ranking
Pros
Pro Manages to balance characters of vastly different power types
Characters are built by expending Character Points on abilities, skills and advantages, and by choosing powers and complications. To balance the characters, the game imposes certain restrictions on what's possible based on game's chosen power level.
Pro Familiar system
If you have played D&F, some mechnics will be familiar to you.
Pro One dice to rule them all
Only one dice, a D20, is needed to play the game.
Pro Allows for quick character creation through the use of archetypes
M&M includes a variety of archetypes that players can base their characters off of. There are 15 archetypes to choose from. For example, there's a speedster archetype for Flash-like characters and shapeshifter archetype for Mystique-like characters, etc.
Pro Versatile
Any powers, any heroes can be constructed.
Pro Has a New Basic Hero Handbook for new players
In 2019 a "Basic Hero's Handbook" has been made for newbies to the game. It is a stripped down version of the full rules meant as an introduction to the system.
Pro Effect based
All powers are effect-based, you can construct any powers just by deciding which effect, advantages and drawbacks they have,
Cons
Con Tedious character creation
The gameplay is easy but character creation can be tedious.
Con Rather complicated especially 3rd edition
Too worried about balance such as will/fortitude which is not realistic or doesn't even simulate the comics.
Con Requires lots of suspension of disbelief
Because characters like Superman and characters like Catman are balanced by the game to be comparable in strength it may be difficult to suspend your disbelief.