I've added a (presently for sysops only) Special:Undelete, which should appear as "View and restore deleted pages" in the special pages list. It lists the archived deleted pages (the majority of which are pure drivel and should be flushed at some point), and you can view the archived pages and their histories and optionally restore them to life.
Restoring a page with the same title as one that currently exists will tack the deleted page's history onto the end of the existing one's.
The interface is still rather rough and not yet fully integrated with the deletion log (ie, links to undelete perhaps should appear next to deletion notices, and restorations should definitely be listed in the same log), and I probably haven't tested it as thoroughly as I ought to have.
It is to be considered experimental, so please be gentle with it. If Lee wants to set it up on the piclab server, less gentle testing is I'm sure welcome there. :) I'd offer my own test server, but it's currently behind a modem (wah!)
(File is in CVS.)
-- brion vibber (brion @ pobox.com)
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