Just testing to see if iframes work in Blogger RSS feeds to embed a Wave within Buzz.
Success!
To embed a Wave in Buzz use this.
<iframe frameborder="no" align="center" src="https://wave.google.com/wave/?client.type=embedded&wave_id=googlewave.com[[LALALA]]&bgcolor=white&color=black&font=Verdana&fontsize=10px&embed_header=false&embed_footer=false&embed_toolbar=false" style="width: 100%; height: 600px; border: none;" height="600px"></iframe>
Replace where it says "[[LALALA]]" with your Wave ID, and put this code into a blog post, then share it to Buzz with Google Reader or the Connected Sites feature and you're done.