You will get more replies on the home ed board. However, I home ed one of mine (ds, age 9), one goes to school (dd, 12), and I have twins (23 months) and am expecting number 5 next year.
Some days it's hard going, but other days, I'm so grateful to only have one lot of school crap to worry about - uniform, lunch money, homework arguments, arguements with friends, etc.
DD loves school, and refused to be taken out, whereas ds hated it, lasted a very long, miserable, year, and has been at home for 3 1/2 years now.
Positives - getting to watch your child learning, letting them learn at their own pace, doing things that interest them, and not just because it's on the curriculum (our current topic is the Romans, and what was meant to be a 4-6 week thing has lasted 3 months so far), being able to let them step back from something and come back to it later if they're struggling, be it 1/2 an hour, or 6 months. Day trips - everywhere is really quiet, and often cheaper, during term time.
Negatives - Having the responsibility of your child's education solely on your shoulders. Getting stuck learning about the bloody Romans for months. Having no "experts" on hand for specialist subjects without having to pay - french lessons are £15 for 1/2 an hour, music is similar. Having a child who is capable of socialising with all ages from toddler to adult, as they are used to it. The cost - there's no subsidies available to pay for subscriptions to websites, workbooks (if you use them), artts and crafts materials (looks pointedly at the 8 foot long chariot pinned to the wall that cost a bloody fortune to make).
The younger 3 may or may not end up at school, we haven't decided yet.