Here is a video about Google Wave. (It is long and probably takes about 20 mins to get a decent feel.) Google Wave is the next big thing from Google -- to merge IM, email, Facebook etc. It is said to be Google's counter attack to Microsoft's www.bing.com (launched this week, in case you missed Microsoft's $100M launch campaign) but it is really not a search tool but a communication tool.
A commentary is here: http://www.itwire.com/content/view/25413/1141/
Here is a back story about it: http://googleblog.blogspot.com/2009/05/went-walkabout-brought-back-google-wave.html
Lars Rasmussen is speaking later this month in Brisbane, and next month in Sydney & Melbourne. He invented Google Maps, and now Google Wave. He lives in Sydney.
2009 Innovation Lecture - Dr Lars Rasmussen, Google30 June 2009 Brisbane – Customs House