Actually, thats probably not true. The cycling guidlines in the highway code are pretty pathetic. If I remember right it says to go around rounadabouts riding at the outer edge!
It also offers no information for more complicated junctions.
Also in many places (like birmingham) the road network is only designed with buses and and cars in mind. You often have to go pretty out of your way when theres a pretty good route ahead with a bus activated traffic light etc..
Bad news about Birmingham BTW.