Wave relevant. With federation and it being Open Source, it means that we will be able to have our own Wave servers and just like with e-mail we decide what we share.
In his post to the wave-protocol group, Dan Petersen announced that experimenting with federation can now start. At this stage it is only for developers and as I understand from Tom, it is still pretty rocky; the code does not want to compile on our box.
For the MediaWikiWave project it is important that we will have our own server because in this use case Wave is connected to a MediaWiki publishing back end. Changes may originate on another Wave server, but ultimately the robot will only run on the local server.
The one question I have about the federation protocol is how Wave will recover for the other servers when the server who originated a wave crashes beyond repair.