My immediate reaction is to wonder why. My follow up reaction is to assume that there must be some way in which the child has been failed by mainstream education. That pisses me off. The idea that people feel there really isn't any other choice - that, to me, is unacceptable.
My general reaction is quite positive - if the parent feels able and has the time and resources to do it, then that's brilliant. It sounds like a lot of work though, and it's not for me personally.
The main concern for me personally is that I need to know that they have access to a lot of other professional and trained people who aren't me. That sounds odd, I know - I have issues, and I need to be sure that my children have people they can discuss these things with if they need to. Yes, not all adults they encounter will be brilliant, but thus far, all but one of the teachers and TAs I've encountered has demonstrated that they're brilliant at emotionally protecting my children. Giving them that network was important to me, and school was the easiest way of providing it.
I'm also very lucky in that the SEN provision for DS is brilliant at his school. He has severe dyslexia. He's coming on in leaps and bounds because the school have access to a literacy specialist. I tried to teach him to read for 4 years. He can't see the words on the page. It was never going to happen. His literacy teacher has got him to the point where he doesn't get upset when a book is opened, and he wants to attempt to write words down. I couldn't do that. I tried - it wasn't possible for me.
I supplement what they're doing by making sure he's clued up on current affairs, that he 'reads' books and poems with me so is exposed to proper literature. Everything we do is a learning experience (well, we have downtime, but I put quite a lot of effort in the rest of the time).
Every now and again I come across someone like Hedgetrimmer who's so judgemental about people who send their children to school. As if we drop them off at the door and give no more thought to them. Just because I don't homeschool doesn't mean that I'm not hugely involved in my child's education. I'm not talking homework specifically, but talking through what they've learned, what people have done, what's gone on in the playground, and making sure any issues are dealt with, sharing in the fun stuff that they tell me.
It feels to me like a power change in our relationship. I'm invited to share in their world, rather than the other way around, and I like that. They explain stuff to me, and they like educating me.