Unfortunately, I think you are 100% correct.
If Bush is re-elected, there WILL be at least 4 more years of war, and tons of casualties.
IMO Bush's wars are a great way to detract attention away from the fact that he is the worst president we have ever had. The more the American public focuses on the "War on Terror", the less attention is paid to the weakening economy, joblessness, lack of health care, tax cuts for the wealthy, the environment, etc., not to mention Enron, Halliburton, etc.
Also, if GWB is elected, he'll most likely try to re-enact the draft, so that more middle and lower class kids will have to go to war, and Bush's rich pals won't have to worry about their kids going to war.