Though there is no link between the two, but I am amazed at the amount of work that has gone in making Google Wave. It is a whole new way of working. The first time you look at it it seems really complicated but once you see the demo you see the real power of collaboration. Its wiki + email + forums + blog + .. nearly all the tools one uses for collaboration today.
If nothing else it will enable Google Apps to make inroads into the business community. Coming back to fefoo, the amount of work I've done almost feels comical in front of Google Wave. I am almost done with all the features now. I was working on a new feature for the last two weeks but had to drop it as I was unable to get a usable UI. I've tried many ways to implement it but nothing seems to fit in. I will probably move it to the next version.