This needs to happen. Pedicabs are cool for event centered/drunkard transportation but let's face it, they're too slow to provide a real alternative to cabs. Bike pulled stagecoaches however would totally be able to replace other forms of public transportation.
In Mexico, there are these 'buses' that are little more than large vans that act as city buses. They're cheap and have certain routes though you can ask to stop anywhere along them. I don't know of any city here that has them but stagecoaches would be an awesome way of providing that kind of transportation without the gas required for huge city buses.
For them to make sense though, I think they'd have to be partly subsidized by a city government or even user memberships.
*sigh* one day...