Bison are incredible beasts and close up they look pretty formidable. This video shows a couple of hikers in Yellowstone park who decided to stay very still and quiet as a bison walked by. I think they made the right choice.
Bison can reach 2000 pounds in weight, and although they always look pretty chilled they can attack apparently at random and hit 35mph if they fancy it.
Basically they should be given right of way, all of the time, WITHOUT QUESTION.