You'll be amazed at how much you cover in a short amount of time. Homeschooling really is radically different from a traditional B&M education, because it promotes a mindset of constant learning and curiosity. The world is literally your classroom.
And please don't worry about chasing rabbit holes. You will, and that's part of the process. The critical thing to remember is that the rabbit holes will follow your and your child's interests, and will provide unparalleled learning experiences.
I'm with Portia on this--deep, project-based or investigative learning is an excellent way to fall in love with a subject, and learn a lot of material!
As a former homeschooler who has to outsource, I must say I'm envious of your experience! I don't think I was ever happier than as a homeschooling teacher to my son--it's such a joy to watch your child delight in learning!!