I never used Wave much, but I'm old enough to have used (the shell program) Talk many, many times to communicate with my friends on the university system. I really hated the live typing feature. In order not to seem rude, you had to focus on the conversation so you were ready to respond as soon as the other person was done. You had to be patient with the typos and slow typing of some people. And even if the deleted parts of the conversation had relevant information, you had to at least pretend to ignore whatever was typed & deleted. It had all the limitations of online communication (no facial cues, no body language, no tone of voice) but didn't have the good grace to be asynchronous which would let you do more than one thing at a time. It was so frustrating to be stuck in one place staring at letter after letter slowly appearing.
It felt like all the disadvantages of an in-person conversation without any of the advantages. It was such a relief when I finally convinced friends to rely more on email or chatting in places like MUDs.
And sorry to rant at you a little. It's just I can still remember the frustration vividly after 30 years.