The Wavemaster vs. Tsunami quality debate has come up a few times in the past. There are those who feel the Tsunami is a well-built, high-quality case, and there are also those who feel it is somewhat cheaply put together, at least compared to the Wavemaster. I have both a Wavemaster and a Praetorian (original w/o door), and have built a system in a Tsunami. Hands down, the Coolermasters excel in the build quality department- they are in an entirely different class quality-wise compared to the Tsunami. The Coolermaster's aluminum is thicker, the finish is better, there is no plastic, and the chassis just feels much sturdier. The removeable mobo tray is a plus as well. With the Wavemaster and original Praetorian (but especially the Wavemaster), cooling can be an issue, at least if quiet cooling is desired. There are ways to work around this with some light modding, though. The buld quality of these cases is worth some additional work to bring them up to spec for modern components, IMO.
On the other hand, the Tsunami has the definite advantage in terms of cooling due to its 120mm intake and exhaust, although a removeable mobo tray is lacking due to space (width) issues that would otherwise result. The Tsunami also has a removeable HDD cage and tool-less 5.25" bay mounting; the HDD cage is handy if you want to suspend HDDs, as you can remove it. I am no big fan of tool-free 5.25" bays, but that is a personal preference. Front fan filter changes are a simple matter, as is swapping out case fans.
I would also have to disagree with the poster who stated that the Tsunami's front door felt cheap/thin- the Tsunami's door is actually the heaviest and thickest part of the entire case. In fact, when empty, the case will tip forward if one opens the door. That said, the door's finish is poor and the plastic behind it is tacky IMO. Overall, I simply did not care for the thin side and top panels, cheap-feeling HDD cage and racks, stiff door clip, loose PCI slot clips, and cheesy plastic feet. The case would be a decent buy at $50-60, but in the $90+ range, there are better choices.