Gamma waves are the most recently discovered brainwave, a discovery made possible by digital EEG technology. Gamma is associated with the integration of information from different areas of the brain, and having a good memory is associated with having a certain baseline of 40 hertz gamma activity. Low gamma activity is associated with learning disabilities and poor memory.
Both brainwave entrainment and neurofeedback deal with brainwaves, but the similarity stops there. Entrainment pushes your whole brain into a pre-determined state, while neurofeedback teaches you how to move specific parts of your brain on your own. It is the differeence between forcing the brain into a given position, and skills building so you can move it there yourself.