generally I would only do it when the other rider knows I'm there and waves me past. I have however passed when the other rider intentionally rides slow and irregularly (weaving in the lane, etc) to keep me from passing or just being an ass. I wont pass in the same lane in those cases, I will cross the line and pass them quite quickly to eliminate their ability to do something stupid....and only on a straight. Passing in a turn is just asking for problems 99.99% of the time.
I would say this matches my opinion closest. After having ridden to the Fall Busa Bash and dealing with the traffic to and from the Dragon, I would say if you have managed to make it to my rear, I am absolutely gonna give you the wave to pass. If you caught me, you obviously are running a harder/faster pace than I. I definitely don't need to be worried about someone behind me trying to find a way around in a potentially dangerous manner. I say rock on! I wanna let you go!
On that same token, if I catch another rider, I expect to be waved around as well - I do add the note that I say that to mean only when it's safe to do so. Can't tell you how many cruisers I ran up on going home on 28...long sweepers and then decent straights. The cruisers would see me in their mirror (while they're making their dip and weave turn negotiations) and then try to blast out when they hit the straights to keep me behind them.
I had no problem showing them the power differential between our prefered machinery. I know some will disagree, but it makes no sense for someone to purposefully try to hold the world to their pace. That would be like me driving my cage to my local mountain road and roll 10mph expecting everyone to comply. Just give me the pass and we will both be so much happier!
I do not give someone "the treatment" if it is obvious that the guy is truely not up to the task of pulling to the side, or releasing the grip to wave me by (I was that guy once) - or if it is a male/female couple. If I had a wife/girlfriend out riding, and some DA blew our doors off, I would be PO'd for sure.
My comments are more toward the "I don't move for nobody" kinda riders. I tend to take it case by case...