Lots of people will slow down significantly (say to <10mph), but not stop completely, if no one seems to be there.
It's one of the many things that make me wild about the idea of letting computers do the driving. Zipper-merging, slowing to time lights instead of stopping, and no rubbernecking are wonders of the future I can't wait to enjoy.
We all had that case where a stop sign that was hidden behind a tree (not everyone lives in the US where they paint them on the road ;)) or misses the school/children crossing sign or any other temporary sign that was put there due to works or w/e.
Or rather: a 'Stop' sign means you must come to a complete stop before proceeding or risk being fined if you are caught.
It is possible to come to a complete stop before proceeding and still cause an accident by failing to give way. Contrariwise, it is possible to proceed through a 'Stop' sign in a safe manner without coming to a complete stop.
In Australia I'm aware of a few intersections with traffic lights that are signed 'Left Turn on Red Permitted After Stopping'[1], which is proof that, at least some of us, are capable of acting like adults, and experienced drivers, and disregard the light / sign when it is safe to do so.
Rules hey. I know one local outdoor swimming pool that is signed 'No balls'. No balls in an outdoor swimming pool? It makes me want to drive through the stop signs.
Australian roads have some pretty whacky speed limit signs, things like: 60 50 40 30 20 80 70 100 School Zone 70 40 30 25.[2]
1. http://mylicence.sa.gov.au/road-rules/the-drivers-handbook/t...
2. as Australian comedian Steve Hughes points out in his act 'While It's Still Legal', see https://www.youtube.com/watch?v=ohogzxiqqkM#t=45m47 (Caution swearing).