Update (5/1/12): I wrote a new article about Construct2 and why I think is now a better solution than both MMF and GameMaker for making games. Please check that new article.
MMF doesn't have enough power for me. Yes, it has all those hundreds of extensions, but you can't just re-use your code in a practical way. Let's face it, GameMaker is ages more object-oriented than MMF and it has as well many extensions (such as physics and 3d) anyways. Also, the GM graphic editor has advance features such as colorize (useful in RTSs), outline, multiple crop, scaling sequence (for your mod 7 games), blur and more. Another advantage is price, GM is free and it's more powerful registered version is only around 20 bucks. Now, GM can be daunting to learn and use, but once you master it you will love it. Furthermore, I am working on a GM big template that will allow the user to have handy pre-made code just like in MMF making the use of GM much simpler. The screen shot is another example of the power of GM, my MMF can't get Isometric games right.
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Thanks, Juan