I think it would be really hard to homeschool. I think it takes a certain level of discipline that goes above and beyond just being a parent or just being a teacher to a child.
I think it has its flaws and positives, just like going to public school or doing the private school option.
I think that you only know what works best for you if you actually explore it.
Charter schools can be great options depending on what the focus is. I think if you had a kid who was a dramatic child or very artsy, a charter with that focus, or a magnet school, could be a really great opportunity for her to explore her own strengths.
The difference between general public and charter public are pretty huge depending on what qualities you are looking at. No matter what, your kid should be following a recommended curriculum. Homeschooling allows you to expand on that option more though (for example, a homeschool history lesson might include a backpacking trek down the Wells Fargo Trail from Placerville to Sacramento, and include nature hiking info on the way about what is edible and "point out the native plants"--something that the rest of us who are so inclined would have to wait for a weekend to do, for the most part, but a homeschooler could plan for a Wednesday.)
Really, the only thing you can do is evaluate schools, evaluate your child and evaluate yourself. What do YOU need to be a successful mother and homeschooler? What would your child need? What do you like about what the schools are doing that you could replicate at home? What do you hate about the schools, what could you change by being active in the school district or PTA? How open are the schools to parental involvement? How open are they to supporting homeschooling? Really get a handle on the options.
Make a list of all the positives and negatives as they come up. If you enjoy having 2 kids in preschool even part of the day, either for the break you get or for the education they are getting, staying home and doing all of their teaching yourself might drive you batty and make you a) not so effective as a teacher and b) not a happy mom.
But if you are excited about it, and the excitement stays over the next few years as you are determining what you want to do, you should not shy away from it. The only way to be effective in this sort of situation is to fully commit.
My much younger coworkers just shared with me that they always thought the homeschooled kids were "weirdos", and further exploration revealed that the kids were either too progressive or too conservative, based on their family dynamics. They also shared that public school kids thought that private school kids were "richies." I got kind of a kick out of that perspective.
I think that extreme homeschoolers are more likely to have kids with socialization issues, but heck, I was the "weird kid" at my public schools, and no matter how much socialization I had, I never fit in. Lo, I have a master's and am working on a PHD, waited to have sex, had my first kid at 34, and have been all over the world. So, I ain't lacking for the fact of my sad middle school era when my slumber party had no takers.
Me? I'm pro public school for my kid because it's easy and I'm willing to be involved, but I am not anti homeschooling for anyone else.