From all indications, Google Wave looks to be a game-changing group collaboration technology. If you haven’t already watched the video from the Google I/O event earlier this year (caution, it’s long) you really should set aside some time to look into this, especially if your organization does a lot of online collaboration.
Google does a pretty good job putting a good face on its products, and Wave is no exception. Here’s a review from ZDNet about Google Wave, which points out a few of its shortcomings. A good read.