But seriously, will people create public waves just as a replacement for Facebook streams, or Twitter timelines? While it can be a serious tool for some (quick communication between members of a community project for example) we are still in early stages - companies won't get into this early wagon. It will be a while before enterprise adopt this kind of tool, if not already using Microsoft Groove.
Yes, did you know Microsoft Groove (created by Ozzie, the same guy who brought Lotus Notes to light and then sold it to IBM) has been around for years and do the same thing? The main difference is "the Microsoft tool is not free".
So, yes, let's see when Google Wave comes out of this preview release.
Bored with it since I pretty much have no one to wave with. Can see how it could possibly make an impact on collaboration - but I think the different ways we communicate in kind of make up for the "features" in Wave.
I'm still skeptical about the usefulness of real-time typing updates in waves.