Agree, demo is always nice, but in my view there is big potential in core capability of GW platform related to Operational Transformation (OT) – http://blogs.gartner.com/ray_valdes/2009/05/31/the-secret-sauce-behind-google-wave/.

I hope you had chance to see files uploading and ability to see files in parallel during uploading on second machine. This is shows significant portion of collaboration potential.

So far, I share your excitement.

When I looked at the GW presentation, it was immediately apparent that you had to separate the GW “application” from the GW “platform”. Sure…there were some cool features in the application and how they presented it (like you, loved the playback). But there are some things that weren’t exactly my cup of tea. On the other hand, the applications were made possible by the potential of the platform. That was the most exciting thing to me. I didn’t dig deeper into what goes on behind the curtain. Sure, in a demo everything goes fast and fairly smooth. But what does that mean in real life? I’m looking forward to hearing more about how it will handle large (and extremely large) data sets, such as the exchange of design data over the web. I’m exciting by the what I’ve seen so far.