If you're serious about game dev, there are much better solutions out than this.
Many like comparing this to the CryEngine (which is really funny), but it's definitely not even close to that level. It's more comparable to Blitz and Dark Basic level, with a few more features.
Performance is something I would consider to be horrible. It's very slow, and if you are wanting to target a wide range of end users for your app then it's simply not going to happen (even with plenty of optimization).
It seems fairly stable, and I didn't run into many problems, which I suppose is good considering that there isn't a large team behind the development of the engine.
Support is also very weak. Getting straightforward answers is like pulling teeth sometimes. The forum community is also quite rude at times, including the main developer.
Ease of use is okay if you're a programmer. If you're an artist you'll definitely have a hard time with it, and expect to run into a myriad of problems. But even for programmers it can be problematic as well.
This engine does have plenty of potential to become something really good if a team was assembled to take it to the next level. But seeing how other indie engines out there like Torque, Unity and UDK are moving forward quickly, LE2 is starting to fall far behind very quickly.
Overall if you're a hobbyist, then it doesn't seem too bad and if you just want to play around, but don't expect to finish any game within a reasonable amount of time, in fact there aren't any completed and published games from this engine yet that I've seen, so that in itself is not a good sign....
