Considering much of my education in my childhood was homeschooled... I am in favor. Homeschooling can provide a great alternative to traditional schools, if done right. Some kids learn at a different rate. I know I didn't learn how to read until grade 3. Traditional schools don't handle that very well. Homeschooling, on the other hand, does. You can take things at your own pace, which is very nice. It isn't for everyone, but it works very well for some people (like me).
Also, one does not become socially stunted from being homeschooled. There are plenty of homeschooling groups for families who homeschool to get together and socialize. If the child is socially stunted, that might just be the fault of the parent for not joining one of those groups, not the problem of the homeschooling itself...