I just thought i should point out a possible outcome of NOT stopping at a red that doesn't involve a car striking the cyclist.
I was in NYC in Riverside Park with my son (near Riverside Drive, a nice, straight, relatively fast road). I watched as a mother and her approx 5 year old son crossed the street on thier bicycles WITH the light (intersections on this road are all essentially sideways "T"s, although there are always parked cars limiting visibility). Out of nowhere, a group of cyclists tore through the intersection going between 15-20 mph, one of them hitting the boy dead-on. They probably didn't feel the need to slow down since there was 0% chance of traffic since they were travelling on the "top" of the "T".
Thankfully, no one was seriously injured, but that was more due to luck than anything else.
Long story short - stop, or at LEAST yield at reds and stop signs.