Let me put it this way: while home schooling provides a more rapid educational advancement process, enabling a student to excel in their studies without the fuss and busy work of a public or private school, it has one serious draw back, socializing.
I have friends that come from a home-schooled life, friends from public schools and two step siblings that attended a private k-12 school for their entire pre-collegiate academic career. But of my home-schooled friends, while many of them growing up were much smarter than children at the same age in the public schools, all seem to suffer from some sort of social weakness. Either they have problems making new friends, problems keeping them, problems working in groups, communication problems or the like. One friend I knew, we no longer keep in touch, was home-schooled in a group with several other kids from around his block. It was a gathering of about 7-8 kids across three or four different grade levels. He was one of the smartest kids I knew growing up (calculus in 8th and 9th grades, opposed to the public system which only introduced calculus in 12th, 11 to the "really" smart kids) but hesitated to talk to people he didn't know.
Having been in boy scouts when I was younger, (I'm an Eagle Scout), I can say that the home-schooled boys in my troop were all a little shy compared to the public kids.
Don't get me wrong, I'm not an advocate of public schooling. There are too many things in many public school systems that give it debilitating weaknesses and holes. The end result, I think, depends on the child, their abilities, and what the parent feels comfortable doing.
Also, schools tend to teach something which home-schooling could never enforce: keeping to a schedule. Schools have bells and whistles, kids go from one class to the next, they have little time to get to their locker, hit the bathroom, talk to a friend or what have you. That is certainly an experience you can't have at home (unless you have some very strict parents teaching) and enforces ideas such as timeliness, preparation and quick thinking.