Today I received my Google Wave developer sandbox account; Here are some of the first impressions I got from the current state of the ocean.  The first thing I thought was that Wave is definitely not ready for prime time yet.   But that is expected at it's current state of development.  The only reason I say this is because the chats lag a lot and it is a little confusing at first.  The second thing I thought was this is amazing. There are so many possibilities created with Wave and its API.  Some cool examples of Google wave bots that have been made such as the Bit.ly Bot and a dice rolling bot for RPG's

There aren't many people to chat with other than devs, which limits the extent to which you can utilize wave.  When the public is able to use wave with people they know and collaborate on projects at work and at home.  Wave will be immensely useful. I can't wait for Google Wave to come out to the general population. I can see wave become more useful than collaborating over e-mail. I can see Google Wave chats being used by companies for projects such as developing software, in which you need to be in constant communication.  Wave could also replace IM for people at home talking to friends, it is easier to continue conversations over multiple days, and is easier to share pictures, and videos without having to follow links. I think Google Wave will end up being as popular if not more popular than Gmail.  As you can tell even in it's beta stage Wave is impressive; and I can't wait for it to evolve into a more useful, and time-saving, and social product.