Notice how Google Wave focus is not on knowledge management (KM) but on communication and collaboration. More precisely, in integrating flows of communication. And although it will only be release in the end of the year, you can show your interest by submitting your email.
After seeing the video, I can't wait to use it in real life research projects. While the use of web tools was of great value, there where always issues of individual preference for using different tools, and in the end we ended up with more scattered information across different tools. Because most of them where used only if a private space was provided, it added for the difficulty of moving information from one place to the other.
As for the last words in the Google Wave presentation "can't wait to see what you are gone come up with, guys", I'm just waiting for my time to come and play around with it :-)
What is a wave?
A wave is equal parts conversation and document. People can communicate and work together with richly formatted text, photos, videos, maps, and more.
A wave is shared. Any participant can reply anywhere in the message, edit the content and add participants at any point in the process. Then playback lets anyone rewind the wave to see who said what and when.
A wave is live. With live transmission as you type, participants on a wave can have faster conversations, see edits and interact with extensions in real-time.