Summary: As a fan of RPG Maker, it's quite the powerful program. However, I don't agree with it's value. If you just want to make a few fun games for yourself and friends, I recommend the lite version, which is free. (But lacks script support and other often used features.
Pros: Easy to use. The same format / layout as previous RPG Maker titles for the most part. RGSS3 is easier to use. (But less powerful than predecessors.) You can sell your games if you use your own or RTP resources.
Cons: RGSS3 (Ruby Gaming Script) less powerful than predecessors. There were some things you could do in RMXP and RMVX that seems impossible in Ace VX. Layering seems weird compared to RM2003 / RMXP. Expensive.
Summary: RPGmaker is good program. Here is my positive and negative thoughts; + easy to use. adding new class, character, skill, item and so on have never been this easy. + powerful. scripting mechanism allows you to make almost everything you want to game, but... i'll talk about it later. + flexible.
Summary: Before you begin, if you cannot tell a story and make it flow, do not bother getting this software. Out of the box, the game maker looks very exciting. With minimal coding required to make something work, it is very easy to be seduced into the magic world of making RPG's.
Summary: I've been using RPG Maker software starting with XP. It's a great program that allows to create own games without any programming experience. It's very easy to use and comes with a large pack of music and graphics to use. Now, why such rating?
Summary: It takes some effort to figure out how to make it work, but well worth it. Having a blast with this. Good learning tool for kids too. Visuals are old skool, but its easy enough to add your own content to the graphics files.
Summary: RPG maker isn't strictly speaking a game in itself, but it's a decent tool for allowing you to create your own game. What's really notable about it is how easy it is to pick up for people who are unfamiliar with programming and have never made a game before.