Wave is an interesting medium to RPG in, with some pros and cons.
-Everyone can type their background stories simultaneously, then you can read them during a lull in play or while you're waiting for the DM to set up.
-In my opinion, it is much easier to really role play when you can type! You don't have to make up a voice for your character, and you can differentiate between player and character dialog much easier than when you speak.
-Because you're already on a computer, it's easy to use online accessories to the game, like iPlay4e.appspot.com/ for your character sheet.
-It's slow. Maybe that's just because everyone was getting used to using Wave, but the first round took close to an hour! (After that it sped up quite a bit.)
-The map is hard to sync. We used an app called "fighty" tonight, but we had some problems with the map updating on everyone's screen correctly. Next week we might use a silverlight program that is available at dndorks.com/
-It's hard to feel very social when you can't see or hear anyone. Skype might solve this problem too.
All in all, It was awesome! Looking forward to more action!
If you aren't on Google Wave yet, you are missing out! Comment on this post or send me a message with your email address and I'll send you an invite!
Happy Holidays and here's to a great 2010!