You pretty much answered your question of you apply the golden rule to this.
I don't generally do it because it annoys me when others do it.
I know what you're saying, I have even rode that section on Archer you mentioned to make it to work on time once, never again because the trailers whizzing by almost blew me over. I also used to take these riskier routes probably because I have never had a close call (knock on wood) and so I guess I was too confident.
Nowadays I don't hesitate to jump on the sidewalk for a bit if its empty. Still ride on Ashland sometimes though. I have heard Oakley is a good route north and south but have never used it yet, not sure what the neighborhoods might be like.
Yes, riding on the sidewalk prudently is alright in my book. Having gotten older 39+ has made me very paraniod and more likely to avoid streets like Western (Festern) and Ashland (Assland). Even with groups of people on bicycles on Festern we would have some a-hole motorists yell and toss things at us. This city has a great layout for cycling but a lousy set of mental cases in rolling cages to share the road with.