There's at least one other situation where you get a held ball, and that's when a player goes up for a shot and the defender is able to keep him from getting the shot off and the shooter returns to the ground with the ball.
But I think you're right. Many officials do put an end to the struggle pretty quickly. The main reason is that it can become a very heated situation very quickly. The only punch I've ever had thrown in a game was part of a held ball. So given the choice between calling a jump too quickly and having to sort out a "situation," I'll err on the side of caution.
