"Wait" versus "Await"

I just found myself pondering the difference between "wait" and "await" and figured I'd share my findings.

Await is a more formal word, and unlike wait, it does not take the preposition for.

For example:
...awaiting his arrival...
...what awaits him next...

Good to know, because I was using it on a client status report, "Awaiting feedback" and it looks like I was using it correctly.

Coolio. (Yes, I just used "coolio.")