Home-Schooling vs. Un-schooling....A New Approach to Education?

I was reading an article on MSN about an interesting phenomenon in home-schooling. http://www.msnbc.msn.com/id/15029646/wid/11915773/  Un-schooling is a different approach to home schooling where parents allow children to ultimately take the lead and plan out their own educational path.  In other words, they do not follow the standard state mandated curriculum.  Children are encouraged to freely express themselves through play and by learning what they want when they want with (of course) their parent’s guidance.

            I was not entirely familiar with this form of home schooling until recently and I have been wondering whether this form of learning has been effective in the long run.  Have children who have been home schooled in this manner successfully been able to go on to college?  Are they able to compete with children traditionally home schooled or otherwise when pursuing higher education or employment?  Or if put in a brick & mortar school would they be able to keep up with the other children?  These are all questions which have been weighing heavily on my mind (since reading up on this) and I would really love to hear from someone who has taken this interesting approach to educating their children.

            I just recently embarked on this home schooling journey.  I am following the standard curriculum, but I’m very curious to find out from other parents who are teaching their children in this manner if it is indeed effective.  If you are home schooling I would love to hear from you.  Please leave me a comment.