I don't think it's fair to turn the Bing vs Wave previews into this kind of corporate comparison. Bing is being released to try and gain MS a good double digit market in a billion dollar industry. It is little more than a clone because that is all that a search engine can realistically be with current technology.
Sure innovation is great. That's why we're all at HN right?! But the big money (short of creating a whole new industry) is about getting market share in established markets. That is what MS are doing - from Bing to Silverlight to Xbox to most other things they do. Nothing more or less.
May i also add ImgLikeOpera (https://addons.mozilla.org/en-US/firefox/addon/1672). Avoid downloading any pics on a page.
My 3gb per month mobile broadband limit here in the UK goes soooo much further with it.