I took a look at the presentation of Google Wave, conducted by Lars Rasmussen and his technical team. Although its still in sandbox, it appears to be a very interesting product. The capabilities of what can be achieved in a browser are mind blowing. A very interesting point about Wave is that it would be open sourced. Primarily i think Google would need a lot of contributions from the community to really leverage the power which Wave promises. Wave brings the power of IM and email together and adds a different dimension to it. An early release of the wave API’s are available .So go ahead and get your hands dirty. The API’s available are the extension API’s for building wave gadgets, robots and the Embed API’s.
Google Wave – A First look