Dies to Removal

Has anyone tried to actually abuse Whelming Wave yet? Evacuation is obviously good. Is this just worse, or have you actually made good use of your Krakens and Octopuses?

It's just worse. At least as a flat-out replacement for evacuation, it makes little logistical sense: the corner cases where Wave would be better aren't going to come up often enough to justify it's inclusion, or the times when the opponent(s) benefit from it as well... the main mistake I see people who exclusively play EDH make is assuming they're the only motherfucker crazy enough to put krakens in their deck just so they can use that line from Pirates of the Caribbean.
Putting it in the deck side-by-side with Evac, or for tribal synergy, on the other hand, isn't such a bad deal from what I've come to understand - hoovering the board is an awesome effect, and even if the card is Evacuation Jr. it still accomplishes the task at hand.

I like Hibernation and Wash out better. Though I am thinking of replacing Inundate with curse of the swine

It costs one cheaper then Evacuation, and unless you're playing a scrub deck, it's going to hit 99% of the usual crap people play in edh. I'd say it's just evac #2.

Seems underwhelming.

I'm actually in the Process of testing a Deck utilizing Whelming Wave. I will get the deck together and post it tomorrow, I will be testing it at FMN, but the basics:
4X Archaeomancer
4X Whelming Wave
A bunch of Kraken, Octopus, Etc
A few Fog effects
Some counter magic

Evacuation #2!

Oh my sides.