In Austria, single-track vehicles, i.e. bicycles, mopeds and motorbikes, are allowed to drive past non-moving vehicles wherever they want to, in particular on the right at red lights. That's already quite useful although of course usually not that fast as there is not so much room for so-called undertaking. I use it a lot in the mornings on a certain narrow one-way street where I otherwise would have to wait at least 10 minutes behind someone's exhaust. Well, motorists like to do that -- I don't.
What's it like in your country? Do you have a similar law for undertaking? Actually in Austria this law is “new” (apparently it's allowed for motorbikes since 1997 and for bicycles since 1989) and some people behind steering wheels don't know it and try to block cyclists. It just tend to shout “StVO §12 Abs. 5” then (that's the very passage in our traffic regulations). Of course one has to choose a speed that is according to the available space in order not to damage anything. Sometimes the gaps are so small that I have to stop and lift my handle bar to get past side mirrors. But in fact I enjoy it a lot and it's very efficient too.
Even more useful and also more convenient to bypass traffic jams are bike lanes on the road or segregated bike paths. Well, in Vienna we more or less only have so-called “multiple use lanes” which can also be used by trucks if they are too wide. Such bike lanes are handy, at least when they are not dangerously constructed too narrow beside parking lanes. There are also a few such bike lanes between two car lanes. Although one cycles is in the middle of moving cars it is far less dangerous than cycling beside parked cars and also allows to turn in both directions easily. Anyhow, that's what I can tell from my own experience, but see for yourself. The pictures in this post show such a bike lane on the Alserbachstraße in Vienna.