I have sailed the Wave in almost all conditions and find it is one of the best and safest boats I have ever sailed in my 40 years of sailing. And I have sailed in flat water, oceans and one of the worst conditions are right here in Lake Erie (one of the most dangerous bodies of water around).

As in any boat, weight distribution is extremely important for speed and for safety.

Light Air
I sit inside the windward hull and somewhat forward -- I do not want to hear gurgling coming from the stern. Also, I want the windward hull slightly up.
Downwind, I try to get as much of my body weight forward as possible. Some sailors lay on their bellys and steer with their feet. I don't like that as I want to be looking back upwind for puffs to get into, so throw my hips and legs forward and reach back to steer.

Moderate Air
The speed of the boat is up, so the stern gurgling is no longer a factor. So, I start to get my weight back. If there are waves or chop I would like to keep the bows a bit high (the bow entry is quite blunt and does not really slice through the water).
Downwind I do not worry too much about getting my entire body forward, but be sure to listen for gurgling and fix it.

Heavy Air
Use the hiking straps from the aft quarter of the boat. The more wind, the farther aft. Straight leg hiking is best, but you had better be in good shape. Again, it is pretty good idea to keep the bow a bit high and not deep into the chop.
Downwind, no need to get forward, and as described in the previous post get back and under the tiller. This is also a great way to reach with the boat in any kind of wind at all -- get as far aft and out as possible, sheet in and fly.

Really, Really Heavy Air.
You will be doing a big of feathering going to windward and you should be in full hiking position
Downwind, you will not be able to get far enough aft -- the boat is just too short.
Normally, the Wave is more efficiently sailed downwind by simply heading for the mark. But, in winds like this (we were racing in 45 mph winds in Lake Eustis last year) I found out the only way to stop the pitchpoling was to let the main all the way out and go on a very broad reach. On normal cats when the puffs hit you bear off. But, with the Wave there is not enough buoyance for heading off, so you actually head up more and let the sail almost luff.

Rigging is another issue. I always rake my mast as far aft as possible. It comes with a 7-hold forestay adjuster, but I use a 10-hole to get farther aft. Then I remove the sidestay adjusters and just use shackles.
This loads up the rudders and makes them the daggerboards as well as steering devices. And downwind you will have less tendency to pitchpole.

Good luck,
Rick