123.0 ~ 123.575 is, literally, an 'anything goes' range of frequencies. Mostly air-to-air chit chat, sometimes air-to-ground.
Over the years I've heard:
- Law enforcement a/c chit-chatting or co-ordinating ground units during survailence or a pursuit..
- Aerial fire fighting operations.
- Military a/c, usually air-to-air chit chat. My guess is that they use these freqs so they can chit-chat without their squadron office hearing what they say. I've also heard A/R and ACM comms here.
- Commercial airliners chit-chatting.
- Use at air shows (performers, air boss).
- Practice area advisories.
- Interplane aerial formation practice.
- 'Company' a/c: air-to-air and air-to-company ops (Rockwell, Boeing, Northrop-Grumman, etc.).
- NASA a/c: everything from company executive a/c to the U-2 test a/c.
- Civil Air Patrol.
- Blimps, gliders.
- Field Business Offices.
- News helos.
You can hear similar comms in the 135.875 ~ 136.975 range, along with commercial airliners and their operations.