"Despite these wins, and numerous loyal fans, Wave has not seen the user adoption we would have liked. We don't plan to continue developing Wave as a standalone product, but we will maintain the site at least through the end of the year and extend the technology for use in other Google projects."

Read more on the Google Blog (one of my all time favorite resources!)

 

Google usually wins, but Wave like Orkut has not caught fire like most of their applications.

 

In order to get some insight into what's hot on the web, and in Googles many online applications, check out the Alexa site. Alexa shows what people are searching for, and what sites are hot. When you click on Google, which has consistenly been in the number one slot of the top ten for many years now- you will see what people are doing with google tools:

 

High Impact Search Queries for Google.com

Query	Impact

1	gmail	High
2	adsense	Medium
3	google maps	Medium
4	adwords	Medium
5	analytics	Medium
6	translate	Medium
7	maps	Medium