First take it looked like normal email client, with navigation and contact bar at the first column, list of messages at second and message preview at the third. It is basically a messaging dashboard. The third column or the preview bar is more like conversation thread on Gmail. The reply message is right at the bottom of the original messsage.
Instead of composing new message or mail, you compose new wave. The first line in the wave becomes the subject and the rest followed by content. Instead of adding to address, you add contact as "audience". The difference shows when you have your contact online at the same time and you can interact directly. You can either create a new message/wave or edit the same wave together.
At the moment I still cannot use the extensions, attach files, even invite others. So I have not explore all functionality of Google Wave as yet. More to follow, I guess.

Posted via email from cyberlucky