It really depends on the road - and the driver and the speed/ability of the pedestrian.
If it's usually deserted, it's probably better for the driver to just keep going and leave an open road; but some roads are very regularly used but not permanently occupied.
Where we used to live, there was an elderly disabled man who used a walking frame and could only walk very, very slowly indeed. He needed to cross the (30mph) semi-main road that he lived on daily.
Because the traffic was frequent but not permanent, he was never going to be able to cross before another car would come along and be right upon him, so his only option was to walk along the road to the crossing a few hundred yards up the road, cross and then back the same few hundred yards, ending up virtually opposite where he'd started.
This took the best part of an hour out of his day in total, every day, just to cross a road where most of us would easily have found a gap and been on the other side in 5 seconds. However, if somebody stopped on their side (and waited patiently) to let him cross, then somebody coming the other way saw the situation and then stopped on their side too, this chap could then safely save himself about 57 minutes - as well as all the struggle and exhaustion of the walking.
True, most of us don't need such special consideration and assistance; but I still think there are far worse habits to develop than to instinctively give way to pedestrians, regardless of their level of absolute need.