Couple things ...
Drafting females would require a whole-sale paradigm shift for the military establishment ...
First -- to reinstate a draft ... "don't ask, don't tell" will have to go away. Because, currently, as you all know, we do separate personnel should they make an admission of homosexuality. No one really wants to deal with this issue right now ...
The pregancy factor. For the past many years since I've been on active duty, I cannot begin to count the numbers of females I've seen get out of deployments by becoming pregnant (usually, of course, with the help of willing active duty male personnel). Think we can draft women and legally stop them from becoming pregnant? I think not.
I don't believe it would "change the way we fight wars." As long as men serving alongside women had confidence that the women could do their jobs when the fighting started.
I have seen, over the years, a number of females who could outperform males ... especially in fields where calmness, common sense, and thinking ability are required (ATC, AIC, intel, ops, supply, admin, medical) ... of course, women can serve, even on the front lines. I've also seen female divers and EOD techs who've been quite competent. I've witnessed any number of females who could outshoot many males with 1911s, M9s, M-14s, M-16s and M-4s.
If a female could perform requisite tasks/requirements (especially physical) up to the same standards as a male -- no gender-norming -- they should be allowed to serve in any job. Except ...
One thing no one addresses though -- and I see it when deployed -- when males and females serve together, away from their home base/home port -- the whole sex thing becomes totally magnified. When, previously, there were no females present, men could deal with sexual abstinence. Add a handful of women to the mix during a deployment -- there will be sexual tension. This, to me is a big factor in my belief that it's not a good idea for women to serve alongside men in deployed units. Of course, that's not my official position ...