Recs.
Updated
SpecsUpdate
Pros
Pro Gives developers access to a more fine-grained controle over the logic through the Game Maker Language
Game Maker Language (GML) is the primary scripting language that is interpreted similarly to Java's Just-In-Time compilation used in GameMaker. It is used to further enhance and control the design of a game through more conventional programming, as opposed to the drag and drop system.
Pro Assets can easily be found in the official marketplace
Yoyogames website has a marketplace which opens up an opportunity for people to sell or giveaway created assets and resources (sprites, scripts, sounds, extensions, full source codes, etc.) for use in GameMaker. This benefits people who needs quality assets for their games, and for creative people to provide these assets for extra income. The Marketplace has a rating system so it can eventually increase the quality and competitiveness of the assets submitted.
Pro It has an IDE used for loading all of the assets
It is very easy to manage all the resources you want to put in your game, the UI widgets for each assets (sprites, sounds, backgrounds, rooms, objects and shaders) are intuitive enough for when adding or even editing the properties of each your assets. The included editors are also good and easy to use (sprite/image editors, shader editor and room editor).
Pro Built-in support for pixel-perfect collisions
Enabling pixel-perfect collisions on 2D sprites is so easy many will likely turn it on when maybe they might be better off without it. Regardless, it simplifies small and/or retro console-like game work. This is a feature fairly unique in this class of game engines.
Pro Cross-platform
GameMaker: Studio projects can be deployed to: HTML5, Linux, Windows, OS X, Windows Phone, Android, iOS and PS3/4/Vita.
Pro Supports 3D
There is also 3D support that doesn't interfere with the primary 2D focus.
Cons
Con Destructive DRM
In late 2012/early 2013, YoYo Games released a version of their new Studio IDE for cross-platform development that would import games and destroy all of the image type resources for some legitimate purchasers of the software by superimposing a pirate symbol on top of the image. This was due to a fault in their digital rights management software implementation which they use as a method of combating pirated copies of the software. Though the false positives bug is reported to be fixed, the DRM is still in place and may affect placeholder graphics, etc. YoYoGames publicly stated they would remove the DRM at a later point in time, but that other less-invasive DRM techniques would remain.
Con No built-in refactoring tools
There are no built-in refactoring tools. For example, you can rename a resource, but GM:S will not automatically change the mentions of it across the code to the new name. Furthermore, because all file formats are text-based, basic refactoring could be achieved by simply doing "find & replace in all files" -- which is a feature offered by pretty much every external code editor nowadays -- but no such feature here. Hitting Ctrl-F will pull up a rather odd Find/Replace box but selecting a word before hitting Ctrl-F will not autofill the Find field for you like it will in most tools. Even that you have to cut and paste yourself.
Con The cost to buy for development is outrageous
The cost for this tool is hindering for indie developers who have little money to work with.
Con Poor level editor
No marquee select, no layers, can be glitchy, no grouping, etc.
Con Expensive for what it offers
There are several options with more flexibility, better learning resources, and a lower price point.
Con No way to activate or use existing modules
Support entirely focused on new iteration depriving even basic functionality of this version with any purchase that hasn't already been activated. It is still possible, thought not intuitive, to download this version on the trail screen for GM S 2. But no purchased (wildly expensive) module can be added any longer.
Con Code editor not friendly to indented code
While the editor of course has features for intending code such as auto indent and smart tabs that can be turned on or off, these features work in unusual ways and, overall, the editor is not very adaptable to various typing styles. Also, Home always takes you to position 0 and never to the beginning of the text no matter how many times you hit it. Thus, if you hit Home and then Enter a new line, with auto indent on, it will always mess up the indentation on the line following the new line leaving you to fudge around to fix it manually. If you prefer tabs over spaces, forget it. Finally, if you leave the GameMaker app and try to click back into the code editor, the code editor will not fully get the focus sometimes leaving you with the ability to type but not tab. It usually takes two clicks to fully focus the code editor from outside the GM app.
Con Owned by a gambling company, Playtech
As opposed to other engines, which are open source or owned by game companies, GameMaker is developed by YoYoGames, which is owned by Playtech, a gambling software company.
Recommendations
Comments
Out of Date Pros + Cons
Pro Has a free version that still allows for creative game development
Game Maker Studio uses a tiered service beginning with its free option. This standard edition of GM Studio has all of the features of the professional edition, minus the additional export modules for cross platform releases. The free standard edition also comes with a non-removable "Made with Game-Maker" splash screen. All other features are unhindered by the free version.
Con Lacks a cross-platform dev environment
The dev environment only runs on Windows.
Con Doesn't support the Switch
Console exports do not support the Switch. (Update: support for the Nintendo Switch is coming)