There are already at least a half dozen "Final Cut Pro" public wave sites available on Google wave. (search public wave: Final Cut Pro). I'd suggest the Cow may want to get ahead of this wave and
figure out how participate.
I have no idea if "The Wave" will revolutionize the internet as we know it, but I wouldn't want to be in the position of betting against Google on anything.
While this post is directed to Ron and the Cow, I think it's relevant to ANYONE in business for themselves. Google isn't going away, and when they put their resources behind something, it's worth paying attention.