As much as I think this war has become a farce and as much as I hate Bush, I'd definitely serve if I was drafted. If they reinstituted the draft, I might even enlist just so that I'd have a better choice in assignments.
There's a proud tradition of military service in my family and I'm proud of my country, so even if I disagree with the war I can't turn a blind eye on what the military and the US have done for my family. I just think we've made a lot of foreign policy mistakes in the last decade. However, I'm prettyer certain that the draft won't come back anytime soon (barring an invasion by China or something), because that would be absolute political suicide for the administration and their supporters.