Pro Rapid development
After using a few quick tutorials you can quickly catch on to the event system this program uses and quickly be able to build any type of 2D game you want. You can download a few sprites from google and put together a working level of Mega Man with character movement / animation / enemies / collision detection / scoring / Tile map and AI within about 2 hours.
The built in behaviors are incredible. It's amazing how Construct can simplify the most redundant tasks in game development.
Pro Simplicity - it is made for everybody to use and love
Construct 2 is a tool for not just programmers, but artists as well. You can create a game with only visual coding, which is easy to learn and doesn't require any previous programming knowledge. You can focus on making your game better instead of just coding. It has some limitations of course, but it's definitely worth it.
Pro Affordable with robust runtime license agreement
There are three editions of C2: Free, Personal and Business.
The Free edition has some limits in functionality, and prohibits you from making money from your C2 creations.
With the Personal edition ($129.99), you get more features and are free to make up to $5,000 with your C2 creations if you're an individual. If you haven't reached $5,000, you don't need the Business edition ($429.99). Non-profit organizations also don't need the Business edition.
After you've made $5,000, you must upgrade to the Business edition ($299.99); but once you've made $5,000, this should be easily affordable. If you're a for-profit business, you must purchase the Business edition, unless your company hasn't made $5,000 business revenue.
There is no difference in terms of features between the Personal and Business editions, just the runtime license agreement.
There is also an education license specifically for educational institutes, where they offer site licenses and take-home licenses.
Pro Export control for all major platforms
All platform exporters are part of the subscription. There are no additional fees and new exporters are added quickly and maintained well. Currently, 15 platforms are supported, including HMTL 5, iOS, Android, Windows, Chrome Store, PhoneGap and Scirra.
Pro In-depth event system
Construct 2's event system allows for deep, detailed control over all aspects of your game. You aren't limited to just a few options. Rather, Scirra has thought of nearly everything in advance with access to any desired parameter of any object all paired with simple and intuitive ways to interact with them. Your events can be organized with event sheets (that can be included in other sheets), event groups, sub-events, loops, and functions that make the coding portion of your game as efficient as possible. You don't need any programming knowledge, but if you do have some, you'll feel right at home with the freedom C2 offers.
Pro Allow server-less multiplayer game creation
Construct 2 uses WebRTC technology to support it's multiplayer functionality. The nature of the technology allows peer-to-peer connection which does not require game developer to create server side architecture to allow communication between games.
Con Only extensibility is with code
Con Does not export to native mobile code
Construct 2 builds to HTML 5 only, which can cause performance issues on mobile devices depending on the HTML5 engine that the OS is using since that will be the biggest bottleneck. Even though it's not really the engine's fault, it still is at a disadvantage compared to native game engines.
Con HTML5 is very dependent on browser performance
Theoretically all browsers should run HTML5 pretty much the same way, but thats not always the case.
Something that worked fine on Chrome, for instance, might malfunction on Firefox (or vice versa). And there's nothing the devs of Construct 2 can really do about it, but to hope next Firefox update might fix it. Internet Explorer is not even recommended.
Add to that the fact that exporting to mobile or desktops rely on these sort of stripped down versions of web browsers (Node webkit, Crosswalk, Ejecta) that you pack with your game, and you can have a real headache if you're trying to make your game work properly through multiple platforms.
Con Dependency on 3rd parties for all exports
Unless you are creating a game strictly for browser/HTML5 usage, exporting to desktop or mobile is risky, as Scirra have no control over your final export quality. Since desktop uses NodeWebkit and mobile is Crosswalk, Phonegap or CocoonJS there is no guarantee that your final export performance and quality will be up to scratch for pro level 2d games. These 3rd party "browser wrappers" are very prone to breaking and introducing lag and bugs that can't be controlled from Scirra's side.