I was homeschooled K-12 and loved it. I never had to spend more than 2-3hrs a day doing school work (but would often spend time on my own projects).
The biggest benefit I think is the customization you can give your children. Do they like math? If so, you can let them run free doing algebra to their hearts content. You can get them more advanced curriculum. On the other hand, I struggled putting my thoughts on paper. While this would have likely held me back in school, my parents just let it go. For whatever reason, once I hit my teen years, it just was not a problem any more.
Another really great benefit was being able to travel during the school year. We could go to all of the local museums and attractions while other kids were in school. And we were also plugged into local homeschooling groups so we still got to do things like field trips and sports. Overall, if you have a parent who is excited and willing to do it, I think you'll find it is a positive experience.