Wow, don't know why I am wading into this, I was public school all the way, and have no kids as of yet...but anyway
I think Home Schooled has gotten a bad rep, it is moslty done, as gonz said in right wing communities (historically, though it's changing)
you get people doing it properly, following the curriculum, using standard tests, etc.
then you get people doing it the wrong way, not following anything but there own personal belief systems, just because you beleive the JFK was killed my the illuminati, doesn't mean you teach that, and only that in history class.
I have seen the bad side, someone I worked with was part or a relgious group (cult) and they home schooled, but all the kids learnt was the bible, his kid turned 16, and had to do adult ed to catch up, and get ready for uni.
As for public schools, well in ontreal at least it used to be good, I went to 3 of them, first was for "special kids" emotionally disabled i guess you could call it (yes I was a bad kid) but it worked, then went mainstream (bad idea) and then another specialty High School (for problem kids).
The fact that the educaters where able to see where I was failing (I was bored off my ass) i was in smaller classes, and yes they would fail you, and you skipped class you got kicked out helped me graduate with a 92% average, and be able to handle college.
So not all public schools are bad, if they have the $$ and the people who don't jump the gun on the ADD thing
and not all home educators are bad, it's a matter of what is best for the child, I know I would not have been able to handle home schooling, I needed intense structure to handle my behavioural problems, and I had friends that would have truly blossomed under 1 to 1 care (or 1 to 4 care)