The people I know who has tried this actually has ended up going back to school or going to full time homeschool. I think a lot of it has to do with the neither fish nor fowl scenario.
Having had a daughter in preschool last year while I was homeschooling DS, I feel like we felt a little of that. It was a good year, but now I realize our opportunities to feel like part of the homeschool community were limited by the 3 days a week we were committed to preschool. I feel like our opportunities are a lot broader this year. On the other hand it was a good transition year for us, and it helped cement the decision that yes, now we are homeschoolers. So it can be worth a try.
That being said, if either of my kids said they wanted to go back to school or go back to school part time, I would be totally game. This is working well for us now. But we'll see what the future brings.
I like Kriston's suggestion about either making yourself a homeschooler or a school kid. I do know someone who pulls their child from school one afternoon a week and does enrichment. That seems to be working really well for them. Definitely would help to have your principle and/or teacher on board!
