Personally I prefer the default "waiting for someone to pick up"-sound so that I know the call is still active. And if it takes more than a minute, maybe a voice confirming "yeah, this is taking a while" with my position in the queue. Do not:

• Whoever recorded the voice made the right kind of noise to make it sound like someone is answering
• Update me with queue position unless the queue position has actually changed.

That way I can do whatever while waiting, including listening to music of my choice.

My least preferred option is a voice telling me how important my call is, how much they love me, and how they will do anything they can to get to me as fast as possible except from hiring more people to pick up the phone.

Also, did Cisco change their default on-hold music for the first time in decades? I wrote this while on hold at them to have a support ticket resolved.