So I finally watched the really, really long demo (below)...and Wave is hella cool (much cooler than, say...having a 9 inch stick impale your neck and stab you in the lungs).
In a nutshell, Wave is a web application that allows you to build collaborative discussions in real time, in an extremely customizable email/IM/stream format. One of Wave's more ground-breaking functions is that it will facilitate collaborative (and even concurrent) editing and a "playback" feature that will show the chronology of the changes made by everyone involved. It also allows for drag & drop attachments (pictures, links, other waves, etc) and includes neat features like contextual spell-check (which will correct correctly spelled words if they're incorrect for the context of the sentence, like 'two' for 'too').
I'm psyched for it. Although I'm not entirely convinced that it might not be too collaborative. From a user perspective, it seems like there's a risk that information changes too quickly, too publicly. I'm probably just more reclusive then most though.
visual goodness starts roughly at 7:30 (yes...it really is a 2 hour demo)
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