The Wave2 looks very unlike an iPhone. I would never mistake the two.
However, the Samsung i9000S (Galaxy S) looks very much like the iPhone (3GS) and on casual observation may be mistaken for one another.
It takes a lot to get trade-dress lawsuits won, so I expect this will only put pressure on Samsung to do what Apple wants, and is not intended to actually win.
(which, btw, shows how broken the legal system is, since cases are more used to bully smaller players than to win on merits)
