We already knew Waveboard was bringing Google Wave to both the desktop and the iPhone with two dedicated clients, but you'll be interested to know the iPhone app is now live on the App Store and available for less than a buck (iTunes link).As you can tell from the short demo video below, the app does exactly what you think it does: it displays 'waves' and lets you search historical ones, start new ones and manage your contacts. It also opens external links in a custom browser without the need to leave the app. Waveboard also supports push notifications through a workaround (you need both the Prowl iPhone app and the Mac version of Waveboard), although they did say the next iteration will have proper push notifications.