I have finally had an IM-like exchange with one of my friends. It is confusing to say the least. Should I start a new blip after each exchange? Should I modify my blip in response to the other one instead? Should I clean the exchange up for others on the Wave? I figure social rules will develop similar to how bottom vs top vs inline rules developed for email; of course, that means we are in for another round of religious debates and flames.
The idea of flames brings up another thought. What will flames look like when you can edit not only your own messages, but other's messages as well? Google Wave needs a reputation system of some form. One that weights a person's reputation based on the opinion's of people you already trust. It also needs a way to control who can see a wave vs who can edit it. There are already read-only waves, but only the system can create them. I think it might become important for blips to be marked read-only, or writable only by a specific subset of the wave participants.
As for the memory issue I mentioned yesterday, it isn't so bad if I stay away from Waves that have many blips. Firefox (on OS X) is eating about 300 MB, which is up from the 100 MB it normally eats, but it has not yet exploded to the 1 GB mark like it did yesterday.