Yesterday Google upstaged the launching of Microsoft’s new “decision engine”, Bing, by presenting Google Wave to participants at the Google I/O developers’ conference in California  – and the world via YouTube.

You can see, as I did, an 80 minute video presentation of what Google Wave is and what it does – a combination of email, instant messaging, document sharing, and a few other things for good measure. A “real-time synchronization engine”, in geek speak.

You can even converse with someone in real time who speaks a different language (one of 40 currently) and Google Wave translates as you type – and not badly.

While watching I couldn’t help thinking what must be going on in the mind of e.g. Ed Dale in Melbourne, Australia, as he translates all of the new elements of Google Wave into marketing tools and advantages, as he tends to do.

Google’s new toy, developed by the Sydney, Australia based Danish masterminds behind Google Maps (brothers Lars and Jens Rasmussen), still has a way to go before it is available for general consumption, so it won’t be ready for Ed’s annual Thirty Day Challenge coming up shortly.

But I’m sure it won’t be long before Ed presents new strategies involving the system in his excellent 30DC+ (Thirty Day Challenge Plus) training programme, that provides hands-on teaching by video, audio and PDF of “how to do stuff”. Not just any stuff, but the stuff you need to be doing to make money online.

While I have difficulty imagining Ed out on the water with his surfing buddies Frank Kern and Jason Moffatt, with one of the most technically astute marketing minds out there, I fully expect him to be at the forefront of those riding the Google Wave.

You can watch the presentation and sign up to the notification list at: Google Wave