Since it has only been legal since 1993 it is fairly new. What is your experience if any?
Home schooling can be great with the right parents or a horrible education. Sometimes it far exceeds public schools or in my nieces case she had an actual public teacher (her father) and she is now 24 and can not read well enough to take a driver's test.
This being said my main concern is that in the United States home schooling is used as a front for religious indoctrination. Parents are allowed to alter the curriculum so that their children remain ignorant of science, sociology, and other religions. This creates a dangerous environment of possible bigotry being programmed into a child's thinking.
I went to a public school and was indoctrinated into young earth creationism now called intelligent design. I was taught to completely ignore actual science and was taught to avoid any other religion. I can't imagine any way I could have escaped if I was isolated at home with that extremists thinking.
It was exposure to the world OUTSIDE my religious micro culture that allowed me to understand that it was normal to question my beliefs.
If it was only for actual education and not abused for INDOCTRINATION I would be fine with it, as it is the idea scares me. I have spent my adult life trying to deprogram myself from the indoctrination as it is.
Not being home schooled is a significant disadvantage, but some people do survive regular schools and excel anyway. I think the most famous home schooled child was Thomas Alva Edison, whose public school teacher told his mother he as "addle brained". His mom immediately decided to teach him at home, and he wound up doing rather well in life. The only famous home-schooler I ever met in person was poet Robert Frost, but almost every day I listen to music by home-schooler Wolfgang Amadeus Mozart. The list of famous home-schooled people is too long to list.
I think that homeschooling eventually leads to a social awkwardness that can take years to overcome. This makes it difficult to form friendships and intimate relationships because they didn't learn their social skills going as most kids do via the public school system. Depending on where you live it also makes it nearly impossible to participate in team sports that teach a ton of things not to mention the most important - there's no "I" in teamwork. I could go on but the main point of my post is that I think homeschooling kids is more about the parents than the kids - they attachment or rather detachment issues and the kid pays the price.
My son was home schooled not by choice but as he suffered ME. I knew he would not cope at this time as the illness affects mental and physical abilities. A tutor would come round and after an hour he was in bed sleeping or suffering , I knew this would not help him but I had to be seen to doing the right thing. There is nothing more he would have liked than be at school and healthy with his friends. By choice going to a school will be what I consider a best option depending on circumstances.