I'm hoping our traffic regulations evolve to better distinguish bikes from cars. There are things that should be allowed for bikes and not cars. I'm not looking to give bikes an edge over cars, just better reflect the inherent differences between the two.
Rolling stops were mentioned above, along with the valid observations that a lot of stop signs exist just to slow cars down.
One-way residential streets are a similar traffic feature. Many exist just to discourage excess through traffic. Enforcing that restriction on bicycles is silly. Bicycle traffic doesn't present the same safety threats or noise pollution that cars do. We should start formalizing that distinction: "One way - bicycles excepted" signs would alert drivers to potential oncoming bikes. On a quite 30 or 40KM side street it shouldn't be a problem.
In fact I can think of places where it would be good traffic management. Where Dundas East (with a bike path) crosses Kingston Rd, it changes into Dixon. Dixon is one way towards Kingston, so it's "No entry" to traffic coming along Dundas. This is clearly to stop traffic from short-cutting the intersection to the south, at Kinston Rd. and Queen, and clogging up narrow, tree-lined, gentrific Dixon.
If you're on a bike on Dundas, going to the beach, you have two choices. Take the very busy and fast moving Kingston Rd. down to Queen, or break the law and cross over to Dixon. The right decision is to cross over to Dixon. It's safer for the cyclist and less annoying for drivers on Kinston Rd. It should be explictly allowed.