As we announced back in August, we are not continuing active development of Google Wave as a stand-alone product, but have been working hard on the open source Wave in a box project and on making waves accessible through Google Docs.
We wanted to let you know that we will keep wave.google.com running past December 31, 2010 until a suitable replacement to host all your waves is available. In the meantime, you can now use the new export feature to download a zipped version of up to ten waves at a time. Learn more in the Google Wave Help Center.
Additionally, Wave in a Box, the project to make it easy for anyone to host their own wave server, has made significant progress on both functionality and community growth. Just last week, the Apache Software Foundation accepted Wave into its incubator for new projects.
Thanks yet again to all our users for giving Wave a try with your schools, businesses and organizations and to the developers who are working on the next steps for the open source project!
see also: Waving in 2011 (from google wave blog) | A Priority Inbox update: time savings, new features, and your feedback (from gmail blog)