If you want to wave and be acknowledged, ride a Harley. At least 90% of the guys I see wave. They also pull up next to you at a stop and talk. Motorcyclists are far more friendly than bicyclists.
Well for one thing, the guy riding a motorcycle isn't out for a workout. He isn't out of breath. He likely doesn't have a particular destination in mind as motorcycles are toys for most people and not truly a source of transportation. And considering the amount of murderous motorcycle gangs, I really can't say that they are friendlier than cyclists. How many murderous bicycle gangs do you hear about?
I do wave most of the time, but no I won't slow down to raise my hand off the bars if I am pushing hard to get up a hill. Kind of hard to do out of the seat climbing with one hand.
For some of us, getting out of the house to go on a bike ride is an escape. An escape from pressures at home or work. I am an introvert and socializing is a necessary evil not something I seek out. Frankly it is exhausting to have to socialize. If I wanted a friend, I would be out riding with them. Wave if you want, but don't expect the whole world to wave back.
And just because you ride an overpriced steel monstrocity named after a crystal vase, doesn't make you any better than those hard core roadies who ride light and fast bikes that care more about function than style.