Google Wave

Google have demonstrated a new product called Google Wave. It is a little difficulty to work out exactly what it is through all the hype, but it appears to be a real time collaboration tool. The idea seems to be to expand the idea of a collaboratively written document, with people adding content in real time. But the examples provided look very complex and this reminds me of some office applications from ten years ago which had so many features that they were unusable. There are some screenshots and descriptions, protocol description and a Google Wave API.