ok... so it's like a forum kinda? I don't really get this sofar

Well, from what I gathered it is like taking the basic principal of a forum, and of e-mail, and of instant messaging and mixing them altogether while at the same time expanding on them.

At parts in the video they mention that the majority of the source code for Wave is open, so what they are trying to do is completely change the way people communicate by spreading and ultimately replacing our normal methods with one all inclusive one.

The best way I can think to describe it is that instead of e-mails or IMs, there would be waves which not only function identically to both, but also can include as many people as you like, branch off at anytime, be embedded just about anywhere on the web, and with the code being open will be able to be improved on endlessly.

They demo a couple of the addons already written for wave in the video, and after seeing them I cant help but wonder if eventually this could also do away with sites like myspace and facebook.

It will. It has great potential. I'm going to use it as soon as it'll be out.
And tell my friends to use it also.
I've read an article about it, and seriously...It rocks. It will replace all insta-messagers and e-mail, and put everything in one place!
We should start a Toribash campaign, and make everyone use it ;3

Yeah, I mean, the way it is looking this will integrate right into the forums, its kinda one of those things that seems eminent. Finally someone who knows what it is :P It is really difficult to explain without just saying "read this" or "watch this"

old news, cant wait for release, definatly will be revolutionary.

I think it will definately be awesome and it's such a simple concept.

this looks cool

Just got my invite to Google Wave, so i'll try to use some of its features, for the first time it looks great, but also i can see that it is testing version for now

Now adays, nerds rule the world. Bill Gates is the richest nerd in the world. If you gots a problem oh well! But wow that sounds too cool. I want to try it!

Nerd is the label dumb people use for smart people. Simple as that.

As for this, there is a lot of cool stuff in there, but it seems overly complicated compared to e-mail. Nothing all that wrong with sending messages back and forth, is there?