I went through ton of comparison when choosing between the two. I had a chance at a MM or an AFM at the same time. I played both games like crazy.
In the end, I went with AFM, but you really can't go wrong with either or both. When I say something is better on AFM, I usually mean by the slightest margin. They're both fantastic games. Here are a few reasons I prefer AFM though:
AFM has a smoother flow to it overall. The trolls, the less reliable ramps, the dodgy Merlin saucer, and the tighter layout cause the game to not play quite as cleanly as AFM does. The 3-bank target on AFM is also much more reliable than the drawbridge.
The jumping aliens are better than the trolls. Hitting each alien in the given time period is a better challenge than dealing with the trolls and they don't leave bumps on the playfield when they're out of play. I like the rules of Martian Multiball better than Troll Madness as well.
Despite a more simple rule set, AFM tends to be better for competition.
MM relies too much on multiballs. There's just too many of them, which in a way contrasts with the physical design. Multiball creates a level of chaos that disrupts the excellent layout. I wish MM was a little more conservative about handing out multiballs.
That said...I freaking love Strobe Multiball. In a dark room, it's one of the coolest effects on a game. I keep my play area pretty dark, so it's always a treat to play.
TZ is my all-time favorite game, but I've always said that if a perfect pinball machine exists, it's Attack From Mars. I think it's the best game ever created.
Quoted from nosro:There is a reason why so many people ask the question "are Attack From Mars and Medieval Madness too similar?" It's because there are more similarities between these two machine than possibly any other pair of machines in the top 100. For some, the differences are enough to call it a different experience. For some, the similarities are too much.
More similar than Star Trek and Spider-Man? High Speed and The Getaway? Borg's games also tend to be more similar to each other than you get between AFM and MM as well.