Me and my sister just talk. Line time is bonding time. If she's interested, I'll start a spiel about a ride and its secret facts (ooOoooOOo). Sometimes, when its quiet, I'll make up a "Jungle Cruise" type of spiel for the ride we're about to be boarding. I like to try to stay creative no matter what's going on.
Mycroft16 and I would only wait in 90-minute lines if we absolutely had to. Like, we were held at gunpoint. I hate wasting time in lines, and we've got a great system so that we never wait more than 30 minutes. The system is: When we decide to go on a ride, we start walking over to it. On the way there, if something has a super short line, we ride that instead. If the ride we want has a long line, we come back at another time. We ride the big rides during Fantasmic, parades, meal times, etc. or early in the morning/late at night. With this strategy, we got on Pirates the day after it re-opened in 2006 in 15 minutes, and that whole weekend (especially the day it opened, when we witnessed 5-hour lines for it), the line was ridiculously long!
When we're waiting in any line, we talk, look through pics we've taken, plan for the rest of the day, decide who will sit where on the ride... Lines aren't really a bother at all.
I think when you are with a group waiting in line is part of the fun. Like someone said, it's "bonding time". It’s just a nice time to hang out and talk. I have been lucky enough to experience Disneyland without ever having to wait in line for anything, and while you get to ride more attractions; the overall experience seems very different when you don’t have time to stop and enjoy the company of the people you are around.
Usually I'm with my friends, so that pretty much explains itself.
When I'm just with my parents and little sib I daydream. I have this capability of daydreaming to keep myself entertained.
...That, and I sorta do let my gaze wander to see if there are any guys in the queue...
If I'm by myself I have my Ipod on. If I go with my girlfriend then we usually talk about work and catch up. My girlfriend and I live together but our schedules are so different that we do not get a lot of time at home to chit-chat. When we like to make up for lost time when we are standing in line.