I think for the most part, people who haven't used Wave yet are misunderstanding the purpose - and that's ok, because until you try it for yourself, it's a little confusing to wrap your mind around the concept. I've been using it for about a week now and even at this early stage, there's nothing out there it can be accurately compared to. It's a new paradigm in terms of communication integration. It basically provides all the features you'd otherwise use separately (docs, maps, IM, email, images, videos, conference etc) in one single integrated environment, where users can interact one-on-one, in groups or even by themselves as a reference building tool. Ii guess that's the best way to put it at this point.
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