Meh. If someone waves at me, I wave back. It doesn't matter if I'm on my motorcycle or not. If I'm feeling particularly cheerful that day, I may even initiate the wave. It's really not a big deal to me.
It was obviously wrong for the cruiser to chase you down like that, and it was wrong of you to threaten to fight him. It you really believe it shouldn't be a big deal, like you say in your topic, why would you fight someone over it? Both of you could have left with a much better outlook if you had simply said "Sorry dude. I didn't mean to offend you" and then go your separate ways. I could be wrong but it seems to me like you're riding around with your grumpy pants on. Lighten up. Motorcycles are supposed to be fun!