I've set it up and had a few successes, mostly it sits idle.

For those who weren't aware, a prototype Wave server (FedOne) is available to test with, it is designed to be a reference implementation and a tool to test bugs in the federation protocol. Don't go rushing to download it, as the user interface is... lacking*, nowhere near the awesomeness seen in the Wave demo video.

* unless you work for Inittech

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Jed.