I do not get an error in Chrome, but the file does not play. The control is visible but not working.
There is an error report in the Chromium project that seems to indicate a behavior: http://code.google.com/p/chromium/issues/detail?id=83323
The bottom line is that .wav can mean a bunch of things and have different encodings. In the comments, it is recommended to use a plugin to process this or upload a file.
In order to serve it on the Internet, I would recommend compressing it in MP3 and OGG format (if you want to be pleasant for FOSS users) and including several source tags.
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