FLC OF A C401 CARGO OP HAS CLOSE PROX WITH BE36 ON DSCNT AND APCH WHILE IN COM WITH TRACON.

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TFC WAS CALLED TO US AS 11 O'CLOCK AND 3 MI; NBOUND; 6500 FT (SAME DIRECTION) TYPE UNKNOWN. WE SPOTTED TFC AND CALLED IT 'IN SIGHT.' AFTER SEVERAL MOMENTS; WE HEARD THE TFC CHK ON THE FREQ AS AN INBOUND VFR. CTLR WAS BUSY AND GAVE TFC A SQUAWK CODE; BUT DID NOT TAKE TIME TO VERIFY HIS POS; OR TO NOTIFY TFC OF OUR CLOSE PROX (APPROX; 1/4 - 1/2 MI). TFC DSNDED THROUGH OUR ALT; AND ATC ISSUED APCH VECTORS TO US; AND APPROX THE SAME VECTORS TO TFC; WHICH WAS NOW UNDER US; UNAWARE OF US; AND OUT OF OUR SIGHT. THIS; WE FELT; WAS A VERY DANGEROUS SIT. ATC WAS PREOCCUPIED WITH SEQUENCING ARR JET TFC; AND WE FEEL DID NOT APPRECIATE THE URGENCY OF OUR SIT. WE WERE UNABLE TO COMMUNICATE WITH ATC DUE TO FREQ SATURATION. EVENTUALLY; THE BONANZA WAS ALLOWED TO TURN INSIDE US FOR THE APCH; AND WE FOLLOWED. WE LANDED UNEVENTFULLY. MITIGATING FACTORS WERE THE CTLR'S STRESS LEVEL (WE COULD HEAR IT IN HIS VOICE) AND OUR IRRITATION THAT THE BONANZA; WHICH WAS SLOWER; AND WHICH CHKED ON LATER; WAS ALLOWED TO GO FIRST ON THE APCH.