I read article some time ago in 'Bicycle Times' (dirt rag offshoot for commuters and tourists) about the law in Idaho they called the Idaho Stop, which is basically a bicycles-treat-stop-sign-as-yeild-sign law, and there are many arguments for and against this law.
The fact of the matter is that most cyclists in my area - myself included - already do the 'Idaho Stop' even though it is not the law in Ontario.