Cyclists are expected to obey the same traffic rules as cars, which makes some sense but not much. Cyclists are more like pedestrians - for starters, they don't have a ton of metal surrounding them. So, by all means, stop at stop signs and red lights, but once an intersection is clear, go. It might not be legal, but most of the time it makes more sense than waiting for the inevitable logjam of cars, then trying to proceed at the same time.
Obey all traffic laws - up to a point.