Surely, when on hold with some company listening to "your call is valuable to us; please do not hang up; the expected wait time is 45 minutes" he wouldn't advise to just be on the phone.
When I need to run a 5 minute test suite before checking in some code, should I go read my email while I wait? What if it's 30 seconds instead?
Where is that point where switching to another task is the right thing to do?