From the Preface by Wayne Grudem to "Are Miraculous Gifts For Today; Four Views":
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Pentecostal...(1) All the gifts of the Holy Spirit mentioned in the NT are intended for today; (2) baptism in the HS is an empowering experience susequent to conversion and should be sought by Christians today; and (3) when baptism in the HS occurs, people will speak in tongues as a "sign" that they have received this experience.
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Charismatic...seek to practice all the spiritual gifts mentioned in the NT...Among charismatics there are differing viewpoints on whether baptism in the HS is subsequent to conversion and whether speaking in tongues is a sign of baptism in the Spirit.
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The Third Wave...people encourage the equipping of all believers to use the NT spiritual gifts today and way that the proclamation of the gospel should ordinarily be accompanied by "signs, wonders, and miracles," according to the NT pattern. They teach, however, that baptism in the HS happens to all Christians at conversion and that subsequent experiences are better called "fillings" or "empowerings" with the HS. Though they believe the gift of tongues exists today, they do not emphasize it to the extent that Pentecostals and charismatics do.
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I would be interested in opinions on Grudem's diffinitions as I am currently reading the book mentioned above.