No, it's not common. I never say that to my friend. I think it's only use in the story in the past. I just say "到時候見啦~"

To translate this phrase character by character, it will be : I won't leave until I see you there. However in terms of equivalent, it roughly equals the function of 'I'll see you there', only with a bit more affirmation to this promise. It is a common phrase in Chiense, however, it's a little 'archaic'-sounding now, there was an extremely well-known movie that goes by this name in 1999, which tells you the time period in which it's 'trendy'. However like any language, the 'trendy word' comes and goes, the change is accelerating especially in recent years (as more and more internet language prevail). One thing for sure is that you won't hear the Chinese millennials saying this phrase.

不见不散 is useful that common in Chinese. Is not it the Chinese equivalent of "See you there"? it means we will meet in Determining the time and place, for exameple : A： 明天上午十点见。B： 好的， 不见不散。 or teacher tell student : 明天上午九点j北海公园见， the teacher will meet and wait untill all student come to the beihaipark.

Not that common. BUT it is very common in novels. Normally among youths, we prefer "Bye-bye", yes, the English bye-bye, which is extremely common.