When comparing Gideros vs Solar 2D (formerly Corona SDK), the Slant community recommends Solar 2D (formerly Corona SDK) for most people. In the question“What are the best 2D game engines?” Solar 2D (formerly Corona SDK) is ranked 15th while Gideros is ranked 26th.
Specs
Ranked in these QuestionsQuestion Ranking
Pros
Pro Instant on device testing
Gideros provides on device players for iOS and Android that can be used to instantly try out your code directly from the Gideros IDE.
Pro Auto scaling and image resolutions
Gideros provides an easy way to target various screen sizes by providing automatic scaling options and choosing the best image resolution based on device screen automatically
Pro Local builds
You can build apps without an online dependency.
Pro Friendly & helpful community
Gideros has an active forum where you can find friendly and helpful advice.
Pro New features and improvements are released regularly
Gideros is being constantly updated and improved by the main developers.
Pro All in one studio, no complicated setup
Gideros Studio is incredibly easy to set up. Once installed it is very easy to create a new project or open one of the many example projects. Trying out an example on the desktop is two clicks away.
Pro Easy plugin architecture
Gideros Studio has a very powerful feature which enables developers to use a C/C++/Java/ObjC library next to Lua. This way it's possible to call the library functions under Lua, get the results and interpret them directly under Gideros Studio.
Pro Supports many platforms
Gideros supports iOS, Android, Windows, MacOS, WindowsRT, Windows Phone and HTML5 platforms.
Pro Amazing 2D performance
2D performance is amazing.
Pro Very easy to learn
Gideros uses the Lua programming language which is very easy to learn (and very powerful). There are some excellent video tutorials too, to help you get started. The Gideros forum community are also very friendly and helpful if you any any problems.
Pro Very simple to use

Pro Free
Corona SDK is completely free. That includes pro-tier plugins.
Pro Corona Simulator
Corona SDK ships with Corona Simulator, which runs your game/app directly on your PC/Mac and updates every time you make changes.
It provides immediate feedback to your actions, you can see your changes right on the screen, without necessity to make build to device. Getting instant feedback really boosts tenfold prototyping and development speed.

Pro Good documentation and lots of tutorials
Pro Content scaling
It's easy to create a game that looks good on many different sized mobile devices.
Pro Live builds - update builds running on a device automatically
With the live build feature, once you have created a build and installed on a device, you get lightning fast turnaround times because any change on the code or data is updated to the devices running the game (within the local WiFi) immediately. So changes can be tested on the real hardware within a very few seconds.
What's even more impressive, this even works flawless with multiple devices running the game. You have to use it to learn how good of a feature this is while development and even more, while doing QA. Imagine fixing bugs and everyone of your QA team/friends/whoever helps to get your game done, has all changes on his device without doing anything but waiting 5 seconds - outstanding.
Pro Lua syntax
Uses the great and easy-to-learn Lua programming language.
Pro Very comprehensive API
It's very quick to get things up and running with Corona SDK. The API is extensive and while it's not 100% feature-complete with the iOS API, it's close enough that you could create tons of games and never run into a roadblock.
The API docs can be found here.
Pro Amazing learning curve
Corona does not throw photoshop-like madness full of buttons editor. You can go as fast as you want, learning and building game from ground up. Eventually, you'll learn how much corona is doing for you. But to start you don't have to master complex editor software. It's a great tool to learn to start game development if you want to learn how to program and make games. Your experience will be 100% transferable to any other Pro game engine.

Pro Cross-platform desktop and mobile
Corona works on OS X, Windows and Android (including Kindle Fire & Nook).
Pro Marketplace for 3rd party plug-ins

Pro Great community

Pro Ability to call any native (C/C++/Obj-C/Java) library
Pro Completely free
Since Corona SDK became Solar2D, it's completely free, as only some third-party plugins are paid.
Pro Open Source
Since Corona SDK became Solar2D, it's completely open source under MIT license.

Pro Well supported
Cons
Con Few resources, but growing
Gideros has a small community, and therefore do not have as many "How to make a game" tutorials. However, there are a couple of excellent books available that can take you through the fundamentals.
Con The Gideros IDE is not as fully featured as other IDEs
The Gideros IDE is not as fully featured as other IDEs, but you can easily use the very powerful and compatible ZeroBrane Studio IDE.
Con Free, but not completely
Con Making a device build requires internet connection
To build your app for the device (iOS/Android/AppleTV) Corona requires to fetch resources from online. This would include base application template and plugins. This allows not to perform local build or use Xcode or Android Studio to do a build. Even Large games/apps would build very fast with good internet connection.
Your code never leaves computed. Corona SDK would transfer some information to determine which plugins and pieces has to be transferred in order to make a final steps in build.
As a bonus - you get basically one button press to get from your Corona Simulator game to game on a device.
