I am a fast driver, but in traffic I switch to wave abatement. It seems only logical to help the system when there is no way to personally benefit. (Except that moving to the right-most non-merging lane will help you avoid waves and move faster.) My prioritized rules of the road are:

  1) go whatever speed you like
  2) empty lane to your right? move right
  3) no car in front of you and a car behind you? move right as soon as possible
  4) slower car in front? move left if you can

These simple rules cover most situations in a way that benefits everyone involved. They do not cover some minority cases: aggressive tailgaters and high relative lane speeds (I leave a buffer lane if > 10 mph and no cars behind me).