In my town people go through yellow lights at normal speed, and after the light turns red two more people get to go through too. This way there's never a point where a car isn't going through the intersection. This is to prevent pedestrians from crossing streets, because they should really know better.
xD

If I'm far enough away to easily come to a stop, I'll stop. If I'm close, I'll go through at a normal speed. If it's borderline, I make a judgment call.