Doing School Choice Right, a new report from the Center on Reinventing Public Education states, “Choice programs will not be implemented easily or even cheaply. The surest way to help guarantee their success will be conscious, well-thought-out strategies drawing on the best thinking of the worlds of government and philanthropy. And perhaps the surest way to encourage their failure is to implement choice programs quickly, carelessly and cheaply, optimistic that at some point things will all work out for the best.” 
The report billed as “preliminary findings” begins with questions: “Will school choice be the end of public education? Or will it be the salvation of thousands of students who would otherwise fail in district-run schools? There is only one honest answer: it all depends.” They promise further studies around choice: funding, parent information, impact on children, performance accountability and other areas.
A related report is School Choice: Doing it the Right Way Makes a Difference by the the First National Commission on Choice in K-12 Education.