I would prefer that they be treated like cyclists. Having a right to the road does not make you identical to a 4000lb car with a 200+hp engine. I'm a fan of the Idaho stop sign/red light laws. I run lights occasionally, but its usually after stopping and taking a second to survey the intersection and make sure its all clear. Bikes just dont pose much of a threat to anyone. I agree in a busy, dense city like NYC with a lot of pedestrian traffic, it becomes more important to follow the lights.