The link below takes you to a series of slides that clearly articulate the space required for cyclists on the road. Thanks to Bob Kurylko for forwarding. Please note that it was identified as "a work still in progress by Dan Gutierrez."
In my mind, Dan's diagrams and explanations perfectly capture why so many people are too scared to cycle in traffic. Being trapped riding in the edge hazard combined with the close pass zone creates a scary and dangerous situation that current standards for bicycle facilities don't address adequately.
https://docs.google.com/open?id=0B-Gu4I2V0ZScbTR0MHhoZHh2RzQ