It's fairly common - at least as common as the Stravinsky music anyway I think.
It's jazzy 'musak' I suppose (but a cut above elevator stuff) with some electric guitar 'noodling'. Instrumental, sounds a bit like George Benson maybe.
I make loads of calls every day though and am put on extended hold quite often - never thought of taking any notice of who I am actually on to when I hear this music.
I'll definitely post up when I come across it again.
Can you imagine if Caveat posts the name of ABC Widget Company because they have this hold music and then they receive about 500 calls from people asking to be put on hold?