B767 DELAYS TKOF CLRNC WHILE B737 IS ON LNDG ROLL AT SJC AND OVERTAKES A C152 ON DEP OFF ADJOINING RWY 29 ON INITIAL CLBOUT.

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WE WERE HOLDING SHORT OF RWY 30R AS A B737 WAS LNDG; AND ANOTHER WAS ON FINAL. AS THE B737 WAS TOUCHING DOWN; TWR CLRED AN ACFT FOR TKOF FROM RWY 29. SINCE I HAD SEEN A BUSINESS JET IN THE VICINITY OF THE TKOF AREA FOR RWY 29; I THOUGHT IT WAS HIM. TWR THEN CLRED US INTO POSITION ON RWY 30R TELLING US TO BE READY TO GO AS THE ACFT ON FINAL WAS ONLY 4 MILES OUT. I WAS NOTING HOW CLOSE THE ACFT ON FINAL LOOKED; AND ONCE WE WERE ON RWY 30R; THAT THE B737 THAT HAD JUST LANDED; WAS STILL NOT OFF THE RWY. TWR CLRED US FOR TKOF WHILE THE B737 WAS STILL ROLLING DOWN THE RWY. WE DELAYED OUR TKOF ROLL UNTIL THE B737 WAS CLEAR OF RWY 30R--AWARE THAT THE ACFT ON FINAL MUST BE GETTING PRETTY CLOSE TO HAVING TO GAR BY THIS TIME. I WAS CONCERNED ABOUT THIS AND NOT PAYING MUCH ATTENTION TO THE ACFT NOW ROLLING DOWN RWY 29. WITH THE B737 AHEAD OF US FINALLY CLR FROM THE RWY; WE BEGAN OUR TKOF ROLL IMMEDIATELY. IT WAS JUST AT ABOUT LIFTOFF THAT I REALIZED THAT THE ACFT OFF FROM RWY 29 WAS A SMALL SINGLE ENG CESSNA-AND WE WERE GOING TO FLY RIGHT PAST HIM; THROUGH AND ABOVE HIS ALTITUDE. WITH HIM BEING ONLY A FEW HUNDRED FEET IN THE AIR AS WE UNAVOIDABLY PASSED HIM. IF HE HAD ENCOUNTERED OUR WAKE TURB; I DOUBT HE COULD'VE RECOVERED BEING SO CLOSE TO THE GND. TWR WAS IN TOO MUCH OF A HURRY. THEY CLRED US FOR TKOF BEFORE THEY LEGALLY SHOULD'VE WITH AN ACFT STILL ON THE RWY AND JEOPARDIZED THE CESSNA WITH OUR PROXIMITY TO HIM. THEY SHOULD'VE HAD US WAIT; AND WE SHOULD'VE REALIZED THE TIGHT SIT AND REQUESTED TO WAIT. CALLBACK CONVERSATION WITH RPTR REVEALED THE FOLLOWING INFO: RPTR ADVISED THAT AS THEIR ACFT WAS PASSING THE C152; ATC ADVISED THE ACFT TO 'SIDESTEP TO HIS LEFT'. RPTR HAD HEARD THIS VERBIAGE WHEN BEING CHANGED TO A DIFFERENT LNDG RWY; BUT NEVER WITH REGARD TO A DEPING ACFT. RPTR ADVISED THAT HAD THEY NOT DELAYED TKOF CLRNC WHEN ISSUED. THEY PERCEIVED THAT THEY WOULD HAVE OVERFLOWN THE STILL ROLLING B737 PRIOR TO IT EXITING THE RWY.