Granted, there are probably many game apps (educational/learning) I could build that would still be perfectly fine in Corona (which I will probably be asked to do if the business app works out solid), but for a 'real' game, i'd personally be extremely leery to do Corona.
Yes, there are "dead-ends" that can bite you if you don't know about them going in (such as, if you *must* use iAds, forget Corona) but as long as you're aware of the limitations (not as many as some make it out to be) you can go a long way with Corona. For both games and biz-type apps.
PS - I sell tutorials and tools for Corona SDK developers, but if I didn't think it was "the best" thing overall I'd switch to something else. I play with everything -- and keep coming back to Corona.
GameDevNation.com - Video tutorials and tips for Corona SDK developers.