Now that we've drifted WAAAAY out to sea...
The Wave is so low because they typically don't participate in HCA sanctioned events.
I misread that - had to edit this text....So that means that the HCA numbers really don't paint much of a picture about Wave racing. I can say that I've particpated in a couple of Wave events (outside of HCA) and had a full on blast. It really is a unique racing experience - and well worth it.