I do my best to do as traffic does. I don't necessarily come to a full stop at stop signs, but I do wait my turn at a 4 way stop. I at the very least stop at stop lights. If I'm sitting for a while, and there's no traffic I'll pull through. I generally try to conduct myself in a way so as not to make myself a target of some enraged bicycle hating driver. If one blatantly flouts traffic laws, it just provides fodder for their hate.
I also agree with TurbineBlade, most everyone has their own interpretation as to which laws are meant to be obeyed, and which ones you can ignore. There's a 4 way stop near my house and you could sit there all day long and never see a car come to a complete stop, and yet there's never been an accident there, at least that I've ever seen.