Originally Posted by Metaluna

Playing devil's advocate, you could argue that waving/thanking a motorist for recognizing your right of way just reinforces the idea that you didn't really have the same right of way as cars and that they just did you a favor. But, I figure, even if they're just following the rules of the road, in their mind they *did* just do you a favor, so at least you're giving them some positive reinforcement which hopefully will lead them to continue being considerate.