I have run the blood bus a few times. I won all my games. (So not only Johnny can make it work

).
One of which I beat Furion's ETC list with an ETC legal blood bus (old ETC comp, not the most recent draft). While it is comped, mine was comped too, and Furion's list did win ETC singles, so it isn't a soft list by any stretch. Basically, I wiped the lion
horde, killed a few other units, and my bloods and characters stayed alive. I ended up winning 12-8, which isn't bad considering a HE list with a lion
horde is probably the worst match-up possible for this list in particular.
My list went something like:
Vampire Lord
-4+ ward
-2+ armor save
-Hellsteed
- Ogre Blade **EDIT** Whoops, only had lance. Not enough points for the blade.
- Book of Arkhan
-LV 4
-Red Fury
Vampire
-L2 (shadow)
-Hellsteed
-Red Fury
-2+ armor
-Dawnstone
-Obsidian amulet (MR2)
Some mix of Skellies and Zombies.
-3x 5 dire wolves
2x5 hexwraiths
1x 6 hexwraiths
2 bat swarms
7 Blood Knights
-M, St
-Banner of Blood keep
Basically, the entire army was designed around ensuring the bloods got to combat. The hexraiths are there because of their ability to clear
chaff during the movement phase, allowing me to move the bloods after blocking
chaff is cleared. This limits the ability to block them and really is key IMO to making sure this list works. Swarms are there to ensure I swing first against things with ASF or I5 or I6. Miasma is there for the same reason against I5+, as redundancy is key (if swarms don't make charge or are eliminated, I can cast miasma).
Arkhan is there both for the movement ability (with recent FAQ and hexwraith second drive by) and to get re rolls to hit on the bus, which is huge. As I have a LV 4 vampiric lore caster, I likely will get 2x vanhels with this item, so being able to cast it twice makes it much more difficult to stop the spell if I really want it to go off. Also, as one vanhels cast comes from a bound item, I am not afraid of just throwing max dice at the bound item before a key combat, as a 6-6 just burns out the item and doesn't risk my lord.
Obsidian is there to give the blood and characters 2+ wards vs light, death, and metal magic which are really common lores, particularly in ETC. I threw my characters on hellsteeds for late in the game cleanup. After the bus hits its main target I have the option to split characters and bloods to handle whatever is left.
All in all its a great list, but it handles like you expect a deathstar list to handle. If the bus survives and gets to combat, you probably win. Otherwise, you probably lose. I went 5-0 with it so far, and probably will bring it out more. Next time I use it I will post a BR.