Just like Email, Waves will be the next method of communication that will make us wonder how we lived without it. That's a pretty bold statement, but based on the sneak peek given to developers at Google IO, the platform is well thought out and should be simple enough for anyone to use.
With Google Wave, you can do traditional Email-like conversations, live chat, share pictures, integrate with other services, and many other things that used to require separate applications.
Google has also defined a protocol that defines what "Waves" are, and how they are used. The first application to use that protocol is the open source Google Wave service. Since it's open source, it would be very easy for anyone to start their own Wave server.
Once Google Wave has been fully launched with lots of powerful extensions written by the IO attendees, Email will be as good as dead. Let's hear what you have to say in the Talk Back!