Engadget has posted the hands-on with the app which - like Google's other service-specific iPhone offerings - is a browser-based web app rather than downloadable from the App Store.
The initial roll-out of Google Wave could be as soon as next month (30 September seems to be the date that keeps cropping up).
Wave is designed to be a ground-up reinvention of the way we communicate and collaborate. Think instant messaging, but with the open platform potential for plugging in Twitter and other methods of communication, too.
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Lars Rasmussen, Software Engineering Manager, explains that a Wave is " a single shared space where two or more users can exchange real time dialogue, photos, videos, maps and documents in what we call a Wave. Everyone can reply to a Wave, people can come and go and you can drag and drop information from all over the web."
The hands-on shows the Wave dynamically updating between the desktop and mobile versions of Google Wave.
We previously brought you a complete guide to how Google Wave could change the way we use social networking apps and sites on the web: How Google Wave will bring together all your social apps