"Take Turns" - A usable new traffic sign?

This one comes to me from good friend Shouvik Banerjee, and has already inspired quite a bit of debate among my old college buddies. Gary Lauder suggested at the TED conference that we need add a new traffic sign to our roadside bag'o'tricks: "TAKE TURNS." Watch the video to get the details, but the gist is that you don't exactly YIELD (because that could screw over the yielders if there's too much cross traffic), you don't exactly STOP (because you don't always need to), but instead you follow some common-sense rule to take turns if there's a lot of traffic at an intersection. He does a neat job of justifying it with savings of drivers' time and fuel - both because unnecessary stopping-and-starting is reduced. But the debate with my college friends is whether people can be trusted to do this correctly - are people fundamentally courteous, engaged drivers? Or distracted, selfish jerks? It's a good question - the answer to which may well determine just how usable this new sign would be!