Google wants to reinvent email for the 21st century. What's new in Wave?

CBC.ca: Waves and emails will presumably co-exist for a long time after Wave is finally released to the public, but it's unclear from the demos how the two systems will interact.
Privacy is also a concern: How will Wave handle the embedding of a private conversation on a public web page? Will every person involved in a wave have to consent to its publication?

And while the group editing of wikis has made sites like Wikipedia possible, they also introduce unique problems. Would Wave introduce Wikipedia-style edit wars to everyday conversations?
We'll know more when Google rolls out the next wave of Wave later this year.

SHOOT: I've definitely sensed that Facebook and Twitter are starting to overlap and replace email to some extent. So integrating them makes sense. Whoever does that first, and best, wins.

clipped from www.cbc.ca In May, Google announced Wave, the company's attempt to reinvent internet communication. Brothers Lars and Jens Rasmussen, the Australian creators of Google Maps, have been working on the project for the last two years. On Sept. 30, Google opened its preview of Wave beyond the 6,000 or so software developers who are currently helping to build the service. About 100,000 users can now see what Wave is all about. Google Wave incorporates ideas from email, instant messaging, blogs, wikis and bulletin boards into a single new method of communicating. But we already have email, IM, wikis and the rest, so why do we need one tool that does all of these things? What is new in Google Wave? Lars Rasmussen, and project manager Stephanie Hannon demonstrated how a conversation that starts out looking like an email, with replies going back and forth, can turn seamlessly into an instant messaging conversation if more than one person has the wave open at the same time.