Home schooling leads to socialization problems, which is not necessarily bad.
If you can teach your kids how to make a living independently of society then it is probably the way to go. But if they are going to need to get along with others to make a living then they will need the practice they get at school. The main thing they learn at school is not the actual academic curriculum -- it's the social interaction aspects.
I think the 1 on 1 is better, and the idea is to avoid the secualar ideals of public schools. I have some freinds that home school there children, they are very invloved parents which is great, there kids come first, job and themselves second.
School is only as good as the teachers that are working there... same goes for home schooling. If a parent has a degree in teaching then there would only be the socialization situation to deal with. But from what I've seen there aren't many qualified teachers on these forums if spelling is any indication and some people also have a problem with accounting.
Let me tell you that all three of my children have been taught at home. My oldest is in college and doing very well, my soon is a senior and doing very well and my daugter is in 8th grade. They have been taught at home all the way, and i think much better off. The b.s about socialization is b.s. My kids are involved in more than they can want. Infact most people are amazed at there social skills.
We are lucky my wife has here master's in teaching so they have a great teacher. Mnay people who do home school are doing it foe the wrong reasons. It worked well for are family.