I have been fortunate in my short riding career, & only had 2 instances where I had to rely on my 'instincts'. Both with vehicles coming in from a side street.....I thought they had me both times. The first instance was on a 55 mph road & 5 or 6 other bikes were in front of me, & 2 were behind me. This guy runs a red & I had to just 'lock 'em up'. Smoke was rolling, (I was on my dual sport that time), the 2 behind me were impressed too.
The bad part was I didn't know all the things that locking up the brakes could cause on a motorcycle, (I did know about bicycles), but I suppose I was lucky to get through that okay, even though I didn't get hit, I could have easily lost control of the bike & went down.
The 2nd instance was with hubby in South Carolina. We were on a small road near the beach on Oak Island, and he went by a side road, (we had the right of way) & some guy in a truck just cruising along at a pretty good pace & I was sure he was going to run the stop sign, (it was a 'T' type intersection for him), so I figured I could open it up & see how fast the deuce could go, or swerve off the pavement into soft sand. I gassed it & got by, but I was pretty scared from that.
I don't know what I would do in your situation, I guess rely on instincts & hope I make the best choice. Thanks for posting that question, if I read enough & have a plan in my head for a situation, I will hopefully not hesitate too long....hmmmm. BTW, the 'I've always heard that this is what you do in this scenario' saved me a lot of skin on my bicycle more than once. I hope it can do the same on a 700 lb bike.