My view is this:
1) In the vast majority of cases, I am against home schooling. If the kid has some sort of physical problem or trait of some kind that makes him a target of bullies so much so that his life in school is hell, then perhaps yes. Other than that, no.
2) Most of the kids I know who have been home schooled are ones whose parents want to shield them from things -- mean kids at school, secular teaching, etc. Other than what I mentioned in #1 above, the shielding is not helping them in my opinion.
3) Most of the parents I know who are doing the home schooling are not what I would consider to be qualified. I know they have all kinds of resources that they can use, but most of the parents doing the teaching don't spend enough time doing it from what I can see.
4) You just CAN'T duplicate the social skill learning that you do going through a traditional school. A lot of it is painful for some kids, but that's life. I know these home schooled kids get together on occasion for sports and field trips, but it's not the same as daily contact.
5) There are definitely many kids who are home schooled who do very well academically and go on to lead productive lives; some of them even greatly excel. There are even studies that show that home schooled kids on average do better than non-home schooled kids. I'm SURE that is true too. The reason is that at least when a parent home schools their kid, they are taking an active part in their education. When looking at the masses, a HUGE percentage of the parents couldn't give a damn about how their kid is doing in school, or at least they don't help do anything about it. If though you take the non-home schooled kids whose parents ARE active in their learning and compare them to the home schooled kids, I think you'd see a much different result, AND the non-home schooled kids would have the benefit of the social skill development.
Generally speaking I think most people in the US anyway have the absolute wrong idea about education. The very BEST teachers teach in public schools OR the super expensive exclusive private schools, but NOT in the run of the mill private schools (usually Christian or Catholic). The reason is that public schools pay more than typical private schools, so the best teachers go there. Private schools are a way for the affluent to shield their kid from some of the bullies that are in the public schools. Some of them do so for the religious component, but not all. There are some VERY good public school systems out there -- just need to find them and move there.