Google Wave was released, initially to a small group, with great excitement and descriptions like “Google Wave will replace email”. Since this early release, the software has now gone to a wider audience and there has been much discussion on what Google Wave actually is with many people disagreeing. What we do know. or at least the view at OutserveWeb, is that it Google Wave could have many uses and even at this early stage it looks like it could be a key tool in collaborative working for teams.
Although Google Wave is being released slowly by invite only (similar to how Gmail was originally) which itself creates buzz and excitement Google Wave will be free and the majority of the product will be open source and available to run on your own server if required.
This short video is a great introduction to Google Wave: