Do We Really Need Traffic Lights?

This is not a rhetorical question. Among humans, there's an almost universal detest of traffic. Therefore, I think the question need be asked. And given our current technological and material ability to eliminate all problems on the road - the answer(s) may serve us better than the status quo...

On Monday 25th January 2010 there was a power cut in Auckland. During the power cut the intersection of Union St & Wellington was filmed - and again at exactly the same time the next day for comparison.