A good look at the problems Google Wave really does solve — primarily centering around business email:

I believe this is partly Google’s fault: they released Wave to geeks and hackers and social media folks first. But Wave is not a geek/hacker tool, or a social media tool, it’s a corporate tool that solves work problems (more on that later). On the other hand, they never claimed it would be a Facebook replacement or a Twitter killer. Google calls wave an “online tool for real-time communication and collaboration”. The way Google should have advertised Wave is: “it solves the problems with email”.

The article also discusses a few key shortcomings with conventional email. Would you solve them the same way?