Well, the next show in the ongoing Google Wave saga is dropping, as people can now host their own Google Wave server. Now what that means isn't exactly clear. "This is a very early stage test of federating the Google Wave code onto non-Google servers. It only affects the developer sandbox, meaning that the preview version of Wave that most people are using is not a part of this test." Being a part of a federation isn't exactly the same as being a stand-alone service.
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