Cocktail of fentanyl and versed is the new standard for conscious sedation. It used to be demerol and versed in the 1990s into the early 2000s, but demerol has fallen into disfavor and been replaced by fentanyl. However some hospitals like Yale still stock demerol if you absolutely insist on having it splashed into that hypo needle.
Most flex sig providers offer 3 choices (1) nothing, (2) conscious sedation, or (3) Propofol, which puts you out cold, although hopefully not forever like Michael Jackson was when he and his Doc overmedicated him. I choose (2). What others choose is what they choose. I recently spoke to a friend of mine who has an MBA from Columbia Business School but was completely ignorant on these matters and didn't even realize he has a choice and can tell his Doctor what can and can't be put into his body. Hello, it's your body, you should decide what is put into it and why. He ended up choosing Propofol for his very first colonoscopy at age 51 after I educated him on the subject.