The Wave team have now finally implementet read only access in Google Wave for your own waves. When you are the creator of a wave you now have the possibility to change the participants access level to either "read only" or "full access". This makes it easy to stop people from destroying your waves, very usefull in public waves.

The "read only" versus "full access" works also for private replies. To change the access you just have to click the participants in your wave or in your private replies.

This feature also works for the bots in the wave and it also works for the public bot. So now you decide who could write in a public wave everyone else which finds the public read only wave only have the option to follow the wave.