I tried to approach the Google Wave multiple times from different perspectives. We tried to use it as a software project collaboration portal, as a replacement to an irc channel and as a source code review system but we never found any true benefits for using it when compared to more traditional approaches. It lacked something but I’m not sure what. Google Wave was neat but it didn’t offer enough. I’m sure though that the software techniques behind the application will find a new place in Google’s future projects.
If you had a better luck with Google Wave and found a good ways to use it, please let me know in the comments.