Last week I got my invite to Google Wave, and Chad Haefele and I played with it for a little bit (he's the only other person I know with an account so far, even though I've sent out a few invites of my own). It's kinda slick, but we were both just poking sticks at it to see what it might be good for. Today on twitter someone posted a link to this video, which does an excellent job of explaining 3.5% of what Wave is all about (epipheo's stats, not mine)
Incidentally, this is my first time trying TypePad's newest embed feature - it works great - it's the small things :-)
