Well, I know that many colleges--including respected universities like the Ivy-League schools--now have policies in place for accepting homeschooled students. That's a sign that it is recognized by the university community as an acceptable (and even desirable!) form of education.
While there are a number of homeschoolers active on this forum, and a few who have older kids (Lorel comes immediately to mind!), you might also think about asking this question on a homeschooling forum or e-list, just to get more comprehensive help. Most of us who comment regularly and are homeschooling have younguns, I'm afraid, and we won't be as much help to you as you might find on a homeschooling forum. The one that comes immediately to mind is TAGMAX, if you're not already on it. Here's a link to where to sign up:
http://www.tagfam.org/ .
If it helps, I don't think you have to worry that homeschooling precludes admission to a "good" school. 20 years ago, that might have been true. Today, a good candidate who is homeschooled is going to be welcomed by universities. They want to see passion and leadership, so just make sure that he has opportunities for both. If he excels, he has as good a shot as anyone!
