Homeschooling is now a very popular and growing educational choice for thousands of families! Visit www.heav.org/convention for more information. Check out these articles on homeschooling for some research and answers to common questions.
On a personal note, we have been homeschooling for several years, and it has been really amazing to see how our boys have benefited from it :)
P.S. FWIW... my son has read more books than I have... and he is only 10 years old. Pretty cool (and I have a college degree [hmm... with honors...], ouch).