Google Wave the future of email marketing?

This weekend I spend 1h20 watching the video introduction of Google Wave and I was pretty impressed by what these guys are doing. While I was watching the video I was thinking about what influence this could/would have on direct marketing. If you do not have time to go through the video, let me explain what Google Wave is and what it does:

Google Wave is a new model for communication and collaboration on the web, coming later this year. Here's a preview of just some of the aspects of this new tool.

What is a wave?

A wave is equal parts conversation and document. People can communicate and work together with richly formatted text, photos, videos, maps, and more.

A wave is shared. Any participant can reply anywhere in the message, edit the content and add participants at any point in the process. Then playback lets anyone rewind the wave to see who said what and when.

A wave is live. With live transmission as you type, participants on a wave can have faster conversations, see edits and interact with extensions in real-time.

So how could this be used in Email Marketing?
Imagine you own a website and instead of asking visitors to subscribe to your email communications and provide you with their email address, you ask them to become part of your wave that will include offers and promotions.

You would have no more need to:

• send out email campaigns - You simple post your promotions on your website like you normally do and provide everyone access to your wave. Whether they read their waves on their mobile device, blog, social network they can see it everywhere.
  
• manage unsubscribe requests - people that no longer want to receive your communications simply "disconnect" from the wave.
• translate your email campaigns - the video show a great tool that automatically translates the language into the language of the reader.
• Keep an active mailing or "Waving" list - Everyone on the wave REALLY wants to have news from you.
  
• worry about deliverability - because the wave is hosted on a server and everyone reads it directly from the server. No more worries about spam filters, throttling issues, complaints etc...

On top of this, you may be able to analyze exactly how much new Euros or Pounds your promotions are generating because they buy directly from the links in the wave... so from your website.

If all of this is technically possible I guess that this would work if the adoption of Google Wave goes beyond Google's expectations and everyone would be using it and besides, would you provide your personal "chat id name" to just anyone?