I hope I am not repeating any previously asked question.
Anyway, so Google Wave is nice and shiny and sounds like a lot of folks(at least at Google I/O :) used it in a useful for work(!) way. I've been beta-testing Google Wave for sometime now, but can't quite grasp how to improve our workflow using it. We have a medium size team of developers that are spread out around US and Europe and naturally most of communication is happening via IM and Skype and email of course. So what are specific things that could be offloaded to Google Wave to improve collaboration by leaps and bounds(meaning not just replacing IM with nicer IM)?
I do not think Google Wave will ever replace "communication" tools, so you won't be able to offload much in terms of IM/Skype/email (and imho the ping feature in Google wave kinda sucks).
What's it's great for is collaboratively and concurrently editing content in the chaotic initial phase, be it documentation, emails, press releases or whatever. Then once documents are stable I find it's easier to manage them as Google docs, which can still be versioned but in a more mature environment.
Also, I think Wave would be great for concurrent programming, and I am hoping someone will put together a code-completion/syntax-highlighting extension for concurrent programming (would do it myself if I had time). it would change "pair programming forever", and at least that way the other wouldn't just sit there occasionally trying to grab your keyboard!