When comparing Solar 2D (formerly Corona SDK) vs PlayMaker + Unity3D, 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 PlayMaker + Unity3D is ranked 77th.
Specs
Ranked in these QuestionsQuestion Ranking
Pros
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
Pro Easy to use
You'll need to put more time in learning Unity + Playmaker compared to something like GameSalad. But once get the hang of it and familiarize yourself with what it's possible to build with them, it's quite easy to use.
Pro Provides access to a huge list of assets through Asset Store
For those developers who can't afford an artist, or aren't skilled enough to create their own art, Unity features an Asset Store full of a wide variety of free and paid assets that can be easily added to your game. The Asset Store has more than just music and art. It also has code and modules that can be added to your game such as unique lighting or GUI systems.
Pro Third party plugins support
A lot of third party plugins have support for Playmaker. Playmaker team also invest time to add support for a lot of third party plugins.

Pro Elegant state-based visual scripting
Instead of a single "if this then that" event list which can become very cluttered beyond the most basic behaviors, PlayMaker gives each object a list of states where only certain events are triggered, and performing an action also changes state.
This allows for a clean, simple visual representation which helps break complex logical structures into smaller pieces, making them easier to understand.

Pro Powerful
It basically can do same things as scripting in Unity.
Cons
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.
Con Comparatively high learning curve
Although C#, JavaScript, and Boo have extensive documentation available online, it could still be difficult to wrap your head around the library and Unity's component based system.
Con Limited tutorials
There are not a lot videos with Playmaker tutorials. Official text tutorials are also quite limited. Even not every action has a description on an official wiki.
Con Performance could be better for 2D
Performance can be a real issue with 2D games. Unity 3D is actually a 3D game engine, and drags a lot of overhead with it.
For mobile, one could never achieve the performance of more specialized 2D engines with Unity3D.
