I knew some home-schooled kids growing up. Many were "normal", i.e, indistinguishable from public schooled kids, and some were not. I think home schooling can be a valid educational choice, but I think that choice makes other avenues of social interaction for the kids all-important. Also, I think it's easier for products of public school to identify with their age group... basically, it's a shared experience even when you didn't share it. There's always common ground to find there, be it "Yeah, football was great" or "Man, I remember all those days smoking joints behind the gym", high school experiences have become archetypal and universally recognizable.
Personally, I value my own public school experience. Not for what I learned academically, although I did learn (mostly by supplementing my own education wherever I could), and not solely for the social interaction, although that helped. Public school taught me many, many invaluable lessons about the nature of bureaucracy, the nature of authority, and the nature of government. I almost see public school as a crash-course in cynicism, and a valuable one at that.