MushroomSoup - I think it's brill that your school focuses on the wellbeing of the child :) I think all schools do, to one degree or another. I'm not for a moment saying that all that schools care about is exam results and OFSTED reports rather than the wellbeing of the child, not for a moment, but I do think that in a big school, however well meaning and however many safeguards are put in place, children can and do get swallowed up, and it happens far too often.
Take bullying for instance, there's only so much the school can do to resolve it and often intervention by the school makes things worse for the child concerned rather than better. Sometimes the school is oblivious to serious bullying when it's right under their nose. Bullied children aren't going to be in the right emotional headspace to be able to learn effectively, and I know the bullying I suffered at school has affected my whole life. You can move schools (I did), but bullying often follows you and being a newbie in a school halfway through the year comes with it's own set of problems.
And the same applies to classroom learning - lots of schools have brilliant schemes and provisions in place to cater for children who are falling behind their classmates, or those who are ahead of their peers, but again, there's only so much one teacher or one teaching assistant can do in a class of 20-30 children, only so much individual attention which can be given to one child, and it usually isn't enough.
Home ed or unschooling is often criticised for 'sheltering' children from things like bullying, which, bizarrely, is seen almost as a right of passage for young children, or accused of not exposing children to the challenges they may face in the 'real world'. I don't believe i'm sheltering my child - she still falls out with her friends sometimes, she still goes through struggles and difficulties, and all the normal childhood stresses and hormones etc, but if I can protect her from UNNECESSARY trauma (and I do consider bullying unnecessary, it's not 'character building', it's damaging), then I certainly will. Home ed isn't some sort of artificial bubble where my child is sheltered from real life, home ed IS real life, it's learning through living. It doesn't shelter her from problems but it does mean we can tackle problems head on and resolve them in the best way possible, and that our options aren't as limited as they often are in schools.
I'm not doubting that qualifications have their place and are useful, but mental and emotional wellbeing is as important, no, more important than qualifications. Qualifications can be gained at any point in life, but emotional trauma is something which can affect you for your whole life. The main thing I want for my child is emotional stability - good self esteem and self confidence, and I believe that in many ways, academic 'success' will be a natural consequence of that.