I have been cycling around europe for half a year or so, and have done quite a bit of hitch-biking along the way. For sure its possible. The only hurdle for me, was psychological. I felt like it would be a bigger hassle etc...
in reality though, ive never had to wait more than half an hour anywhere, fully loaded bike and all. I mean, FULLY loaded. I carry everything i own, which means camping gear, cooking gear, camera and video equipment plus clothes etc..
a lot of my rides have been from tiny cars too! when im waiting on the highway, i take off my panniers, and the wheels (sometimes just the front) and its amazing what you can fit in those little european compact cars!
Mostly i think my drivers think my bike is broken - which is fine for me
and for sure finding the good spots is MUCH easier, and getting left 10km out of a city is no sweat. niiice! hitch-biking rocks!