How big are the big waves in a Gaussian sea?

We discuss various aspects of statistical distributions for large waves. Sp atial zero-level downcrossing waves evolving in time are considered. We cal l such a wave extremal if its crest height attains a local maximum in time. For extremal waves, the joint distribution of the wave length and the cres t height is obtained. Generally, it is observed that taking into account ti me dynamics of spatial characteristics results in distributions different f rom those obtained for static records. Some other statistical issues for la rge waves are also discussed, including the Rayleigh model for the crest he ight, the evolution of wave groups, and the myth of the seventh wave.