Google wave is an awesome tool of communication. It pretty much combines email, instant messaging, chat and social networking into one pot! And the best of all: Its in real time!!!
According to my research I found the following overall review on Google Wave:
Bottom Line of Google wave is:
A combination of e-mail, instant messaging, and real-time document sharing, Google Wave is really only an intriguing technology demonstration at this point. Its real value may become evident when third-party developers take advantage of its open API.
Pros
The next generation of instant messaging. Drag and drop files for collaboration.
Cons
Lots of bugs and crashes. No voice chat. Waves can quickly get messy and disorganized, especially with many participants.
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