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Memories....
As for Wave, meh ... I'm not even remotely impressed. I know a lot of work has been put into it. But, other than a pet project like thousands that google makes every year that end up being shelved. I don't see any place for it.
I think Google documents was the first step in this kind of projects. And for me Google document was very useful :) , and made me more productive... So I think this new thing will be even better.
If one of google's projects will change the web [and even the computers] world, then it will be Google Chrome Operating System.
Wave is designed to be Person-to-person, Person-to-Many type of collaboration application. So like a glorified email. Not a something that will affect and change the way people do things on the web.
As for google docs, again that has some, but limited use. In fact, I don't know why wiki-media didn't blow everyone out of the water and introduced their own. But so far, online "office" docs have "mixed" responses at best (mainly because very few people even remotely care about things like online excel. Who would send their mother an Excel sheet?) And for businesses, they still don't trust online "things" with their financial livelihoods.
As for the confusingly named linux based Chrome, it's no secret. But what makes you think Google will succeed where others failed? They didn't even succeed against the iPhone, what makes you think they will succeed against: Windows7, Mac OS, and the already tried, tested and loved Linux flavours? Only time will tell. But I doubt the OS market is going to be very welcoming to any new players