A thing I don’t agree with is your approach to tools. I may be biased since you mention SharePoint, Live Messenger and Google Wave which all suck in my opinion. Anyway, I believe we should keep our toolboxes as simple as possible. No video shared via SharePoint will match value of simple face to face discussion. Neither will Wave thread.

What more, it is so much simpler to take a look at a whiteboard where you can see current project status (presented in this way or another) than to run an application, dig through lists of tasks, charts and reports.

In my current team we use bug tracker/tasks list (one tool) and shared repository and that’s basically all software tools we use. I would say that if you can stop using some tool and it doesn’t do much harm to your team you should. Or exchange it with something more trivial. Like a whiteboard and markers or a handful of sticky notes.