Lemouth, you are correct. It is not always easy. The pros are that my children have more one on one time when it comes to learning. Also, they get to go out and experience more life than sitting in a class room with distractions and being told to sit still.
The cons I have found is when they get restless while working on a lesson. I do not want to be the hammer and force them to "learn" but I am also learning too how to be a better listener, guide, teacher.
For me the only thing I can do is read and apply what I have read. If I do this, they will be better off with the homeschooling.
I really respect that and you seem to do it really seriously. I am just afraid about people that could do thinks randomly or badly (possibly without noticing). But I may also be afraid of something I don't know.
On our side, we are trying to teach a lot at home too, but as a complement to school, and we keep an eye on what is done at school. That also works well with our busy schedules :)