I have researched bike laws in about 2/3 of the continental states, and all of them had some version of the FRAP (Far Right as Practicable) law. Florida had the widest list of exclusions, ending with something like "or for some other reason".... meaning you could say you had to ride in the middle of the road because of invisible aliens and probably be covered, legally (at least in Florida, where tinfoil is the hat of choice and teeth are optional.).
The FRAP laws are not meaningless, they are Essential .... because they establish the legal right of the cyclist to be on the road, in the traffic lane, given a reasonable cause for being there---and allow a wide range of causes.
Basically, you are allowed to be Anywhere on the road surface---same as a car---and are required to share the road safely and courteously with other vehicles.
Automobile drivers never look at the edge of the road, because the never intend to drive there. Cyclists always scan the roadside for debris, pavement irregularities, obstacles ... because we die if we fall into traffic.
As many have said, if a cyclist rides close to (or in) the traffic lane, cars will react (usually) by giving the cyclist a little more room, or will at least be aware there is a cyclist. A cyclist on the far right edge of the breakdown lane is almost ignored. And since that cyclist might well need to suddenly swerve further into the traffic lane to avoid debris or potholes or an animal, it is best if the following drivers are already a little cautious because they see a cyclist.
Ride where you feel most comfortable. In my experience, no matter where you ride, someone will criticize you. On the road, definitely some drivers will .... and if you mention on this site that you ride anywhere on the road, someone will tell you it is the wrong part of the road. Probably if you ride on a trainer in your garage, your spouse will do criticize you .... for something. So just stay safe and comfortable.