I appreciate the responses here. Just to put a bit of a finer point on the concepts (separate concepts), here's a bit of a specific primer:
Wabi: cultivated poverty, serenity, melancholy, loneliness
For instance, a simple shack in a quiet and secluded glade has
wabi.
Sabi: imperminence, old, venerable, transitoriness
For instance, the incredibly old-looking bark and short-lived flowers of an Japanese plumb have
sabi.
Generally, both qualities are expected to be used together, but it is good to know what's what when working with such esoteric terms.
Kind regards,
Andy Rutledge
www.bonsaitodayonline.com/
zone 8, Texas