On the basis on treat others on how you expect to be treated, yes I would overtake if I needed to. I wouldn't care if someone did it to me if I was part of a procession, I would have better things to worry about and having to think of such trivial matters on such a strange social taboo would never enter my head.
Having been in a relatively small one myself I don't even remember even caring to look outside the window, let alone care about other vehicle drivers over-taking.
Honestly do you believe you are being respectful by not over taking? Do you think they even give a damn or will even notice? What smug git think of themselves such a saintly person to "hold back".
However on Jersey there is nowhere that takes so long to get to, there are many other alternative routes so it would never be a problem, unless I aboslutely 100% had to be somewhere that driving at the speed limit which they were'nt meant for it.
Edit: I'd never go in between the procession though, that would get someones attention.
Hell, put me in the back of my stang and make a loud noise one last time.