Since that time, a lot of water has flowed under the bridge and many prototypes have been made.
Four students at University of British Columbia worked for four months on a prototype that makes 15 Watts of energy in 10 inch high waves.
Here's a video called Taming the waves, about a project in Cornwall (UK)
Another video shows a device by Solarist
This video by SwellFuell shows a device coined Pandorra's box that uses a flywheel to get a more continuous flow of electricity.
And here's another one: