... to be more specific, is it possible to "download" all data (including change history) from one "server" to another (or make local copy, like in git) ?
In more broad terms: does it support a git-like model of making changes offline and syncing them between peers?
A quick Google search does not reveal the answer. And I imagine that to read through the whole Google Wave spec/source code to understand the answer to my question, would be an overkill at this point...