I received an email this morning letting everyone know that Google Wave will be going a way for good at the end of April. I wasn't a big Google Wave user, but I knew a few people who were and their disappointment when Google pulled the plug on it. I am sure however you'll find many elements of Wave in Google+.
(via email: Reminder, Google Wave Sunsetting in 2012)
More than a year ago we announced that Google Wave would no longer be developed as a separate product. Back in November 2011, we shared the specific dates for ending this maintenance period and shutting down Wave. Google Wave is now in read-only mode. This is a reminder that the Wave service will be turned off on April 30, 2012. You will be able to continue exporting individual waves using the existing PDF export feature until the Google Wave service is turned off. We encourage you to export any important data before April 30, 2012.
If you would like to continue using Wave, there are a number of open source projects, including Apache Wave. There is also an open source project called Walkaround that includes an experimental feature that lets you import all your Waves from Google. This feature will also work until the Wave service is turned off on April 30, 2012.
For more details, please see our help center.
The Wave Team