I vote no bus...but I am originally from a small town and never really rode the bus, just heard the horror stories...like jimmy pushed so-n-so in front of the bus...why sit and worry about dear jimmy pushing your child...
now living in the city, I won't send my kids on the bus...my son is excited to take the bus too, but really it is jut too darn bad...
he will have his chances to take the bus at some point, maybe even in preschool, for a field trip or something if they take them.
3 isn't too young for school, considering he will be exactly the right age once August comes around...children need to learn the structure of school early, I think the younger they are the better they benefit from programs such as preschool. They teach play, they also start on other languages...
I just signed my son up for a full time preschool today, and I am super excited to get him started...he is in day care now, and he is getting social interaction...but what he needs is more solid structure and learning to work with groups...however I will be bringing him and picking him up everyday...