I am no 'child development' expert or trained educator so take whatever I say with a grain of salt but I think that it is a useful tool. You can gauge progress and the 'stickers' give a young child a sense of achievement. There are lots of 'games' in addition to 'real problems' and overall I think I would recommend it. Variety is important so we mix First in Math with the Singapore Math.
Basic skills like learning how to use a drawing compass, draw a straight line with a ruler (holding the ruler still is not instinctive it seems) and using a protractor really need to be done 'hands on' and this isn't possible with a computer based tool alone.
Your mileage may vary...
Thanks, currently my DS (who is not homeschooled) does IXL.com which he really likes but he is really hungry to do math and learn more math (and math is really not my thing LOL, I can't really teach or explain the stuff he is moving into on ixl )... I don't think he would like a Kumon place and I am looking for things he can do over the summer to feed his desire to learn math...