Debating the power of Google's Wave

http://news.cnet.com/8301-17939_109-10256471-2.html?tag=mncol
A new application from Google, it is very interesting. I'm new to all this Google stuff, and there is more being created that I need to learn. This article talks about WAVE, an application that looks to be a hybrid of e-mail, instant massaging and google docs.