I have some first hand anecdotal evidence to present to the slashdot community.
From 5th-8th grade I was homeschooled (by choice) which in essence meant I read text books (A Becca publishing), as well as books outside of traditional text books, attended art classes, participated in tennis lessons, learned to play the trumpet, and picked up paintballing as well as maintened my own N64 fan website and learned the basics of HTML and web development.
I went back to the public school system for my high school years. At the time I had no interest in doing so, but I see the benefit it provided me now. For one, I got into college, learned to communicate with people "not like me", and even attempted, but failed (at the time) picking up girls.
My neighbors on the other hand, had 3 kids around my age and after seeing me "homeschooling" they decided it would be fun to do the same thing. Well, they didn't exactly push their kids to do anything beyond playing video games all day. I guess you could say they fit the definition of "unschooling", that is they did nothing to further their education and instead wasted away their time doing nothing "productive". They never ordered text books, or participated in any sort of standardized testing. After they were "done" with school, they didn't attempt to go to any post secondary school, and continue (to this day) to live at their parent's house.
Their oldest son (25) got engaged at 19, got a job working at a TV repair shop, and has no interest in furthering his education. He is currently living with Mommy & Daddy, along with his wife. The other two sons, have not attended college, and also still live at home.
By definition both me and my neighbors were home schooled, but I think I used home schooling as a means to learn outside the box, which to this day benefits me greatly. Whereas my neighbors used homeschooling to take their kids out of the system.
Not that this is any indication of homeschooling successes (or failures) but I am currently employed being paid well above average for my peer group. My neighbors, not so much.
One of my favorite quotes is by Mark Twain: "I never let my schooling get in the way of my education". I truly believe this, and try to follow it every day. Even though I also recognize the need to go "through the motions" of school, or the "normal" way to learn. However I don't let it stop my passions or what I believe in. I think homeschooling works on a case-by-case basis but I honestly think anyone who chooses to homeschool their kids without the intention of teaching them anything is doing them a huge disservice that will severely limit their future potential as in seen by my neighbor.
So I guess you could say, homeschooling works for some people, but horribly fails others. Next topic?