I had the same problem at Vineman 2 weeks ago -- 6:30 1st wave, 8:22 my wave. We were lucky that tranisition was open, but I really didn't go in there much. Here's what I did:
1) Use the bathroom (repeatedly)
2) Sit down and watch the starts
3) Watch the pros come through the swim exit and complete T1 (and see what I should do)
4) Watch some of the age groupers exit the water and T1 (and see some things I shouldn't do)
5) Drink a cup of coffee
6) Do a 10 minute warmup run.
Good Luck! At least you will have a lot of people to pass on the bike and run. Think of it like Pacman and get a little energy from each one you pass.
Michael
I jwas not thrilled when I recently received the wave times for the Steelhead 70.3 in Benton Harbor next weekend. I was suprised that the M30-35 group is the 13th of 18 waves. I've never been in a later wave. Any suggestions on passing the time between 6:45 when transition closes and 8:15 when I begin? I defenitely need to revise my pre-race nutrition plan and try not to get tired or anxious while standing around.