We learned about wavefront corrections in our Lasers course. As it stands right now, it does not seem like wavefront technology will have a huge impact on the way that optometrists practice everyday. The custom Lasik procedure using the wavefront technology just helps to eliminate higher order optical aberrations (by that I mean higher than refractive errors, so stuff like coma, trefoil, etc.). There has been talk of using wavefront technology as an objective method of refraction, but this is not really useful right now since the methods of correcting refractive error cannot correct for the aberrations detected (like spectacle lenses and contact lenses). This technology could theoretically replace the phoropter, but because of the role of the brain in vision, it seems unlikely that a completely objective technique will replace subjective input.
I don't know what other schools are learning about wavefronts, but that's the gist of what we learned about it...