hi lc,
let me put one thing on the record. before they go offering new opinions, the folks who have been wrong for so long about the supposed pre-eminence of tc have a miserable history to explain. i'd say dell didn't spend its money for no purpose.
but what it is, i cannot say. if dell wanted to do tc, they could easily have purchased wave. i think that would have been a better idea than purchasing credant. so i think tc wasn't a moving part in their decision.
but really, i am not sure it is all worth the effort. this is so easy. let wave make sales. that's all that is worth considering. until then, one should probably assume they have not. even in the absence of recent dilution - which hints at improvement.
wave has no need of additional excuses.