Mark Murray wrote:
So, budo would be defined more like, the way of war?
Yup, pretty much. Or perhaps more precisely "the military way". The character suggests armies.
Other "bu" compounds:
buki 武 + 器 "vessel" = weapon
buryoku 武 + 力 "strength" = military might, force of arms
bukan 武 + 官 "minister" = officer
bugei 武 + 芸 "skills, arts" = military skills, military arts
busou 武 + 装 "dressing" = armaments
buun 武 + 運 "fortune, fate" = fortune in war
embu 演 "performance" + 武 = military exercise, military demonstration"