Applications like Google Drive, Evernote, Dropbox, and Box (which IU uses) are ultimately cloud storage solutions for your documents (photos, videos, text files, spreadsheets, etc.). Some of them are like "big folders in the sky" (Dropbox and Box) with some extra functionality like commenting, sharing, etc., and others are elaborate personal or asynchronous note-taking and archiving systems (Evernote). Google Drive is a bit of all of these with the added benefit of collaborative authoring (multiple people accessing and editing the same file at the same time). Wikis, on the other hand, are designed for multi-authoring and versioning, but not simultaneously. And while wikis have become publishing platforms in their own right like Wikipedia, they were originally developed as collaborative project documentation tools.
All of these tools are available to scholars for free or for a (minimal) fee, and are not tied to institutional platforms like course management systems which may replicate some of this functionality. Establishing permissions for sharing, editing and viewing files are built into all these solutions, but some are more robust or complicated than others. In most cases, it's not about picking one authoring or storage platform over another, but instead using them in combination based on their strengths and weaknesses.
We will experiment with using Google Drive for collaborative note-taking, which will help us building documentation that project team members can reference later or share with team members who miss sessions. Google Drive also serves as a great platform for other collaborative authoring like establishing the inventory for the History of the IU Libraries project or for shared tasks by smaller groups like copyright research.
Google Drive is essentially the new home for Google Docs with the added capabilities of uploading non-Google docs to Drive. It's like Box and Dropbox, but with the native authoring tools like Google docs, Google spreadsheets, Google presentations, Google Forms, etc.
Our project Wiki (see Wiki 101) serves as the authoritative source for all project-related documentation no matter how raw or informal. We will likely link to Google Drive documents we create as part of this project from our project Wiki.
This one looks useful, but it is really long and in 6 parts: http://www.youtube.com/watch?v=M0ZvYRU1Y5Y&list=PLs7zxED4oCeqRgLjLzoVShif5RoDEIOSC&index=1
Support from Google: https://support.google.com/drive/?hl=en#topic=14940