Wavetable - See MIDI, as these are similar terms. Wavetable synthesis is the ability of a soundcard to mix common sounds in order to reproduce more complex and interesting ones. The MIDI sounds are stored directly on the soundcard for quick access and sound sampling reliability (in other words, it's built in and will always sound the same).
Wavetracing - The ability of a game and soundcard to make realistic sounds by 'tracing' the path from which it came. In ideal conditions, if you heard a sound in the distance you would know where it came from. Also wavetracing allows for correct 'echoing' effects.
Wireframe - The process of rendering a scene without textures or even solid surfaces is called "wireframe". This is used primarily for diagnostic purposes and generally offers a very high frame rate with minimal memory consumption and load times. It can also be used to show the complexity of a scene (since it hides textures, which appear to increase detail), or to find errors in models and vertices.