Google Wave preview website says:
"What is Google Wave?
Google Wave is a product that helps users communicate and collaborate on the web. A "wave" is equal parts conversation and document, where users can almost instantly communicate and work together with richly formatted text, photos, videos, maps, and more. Google Wave is also a platform with a rich set of open APIs that allow developers to embed waves in other web services and to build extensions that work inside waves."
This is the Google Wave logo that we will be seeing a lot more once it is launched:
Google Wave has a lot of potential to better our communication through the internet. The video shows it working through Google Chrome (where I would assume the best performance will be), Apple Safari and Mozilla Firefox. This proves universal compatability. This app really breaks new terrtory for your browser. A program that everyone can use on PC's, Mac's, Linux etc. That doesn't involve slow installations, taking up hard drive space or using unwanted services in the background like Google Desktop. You can drag and drop files to upload them to a 'wave' and when you are typing an instant message the keystrokes are transmitted live!!! This will be very impressive once it is released, from this build up Google Wave will be a Tsunami so I hope Google gets there servers ready for millions of users instantly transmitting keystrokes/IM/email/photos/third party app data.
For more info check out Google Wave Preview Or the the launch video here: