I've been riding my bike quite a lot this year, gas prices, the short commute, and "just because I want to" all come into play. The saving on gas certainly hasn't hurt us any.
One of the cool things about being a motorcyclist in Austin is the nearly universal trait of all Austin cyclists to give "the wave" - especially when passing in the opposite direction. Nearly everyone has their own version - some stick their hands way out, some just lift two fingers, some with arm straight down. A few fall back to "the nod" - probably because they have their hand on the clutch and letting go right then would cause pain and suffering to themselves and others. 90% of all the cyclists I see either start or return "the wave". It's like we are all in the same club.
The only people who don't give or return this courtesy are generally sport bike riders whose helmets and leather jackets match the color and pattern of their bikes. Maybe they are too busy looking at themselves in the rear view to notice - or maybe they are far cooler than a middle aged dude on a metric cruiser (which is probably true, but still... )
Anyway, I just thinks it's dang cool. It encourages me to ride more. And I feel like I'm in good company on the road.