There is again a lot of new stuff regarding offering a recycle bin in SharePoint sites.
- Mark points to the new SharePoint Recycle Bin tool from Joel Oleson downloadable here.
- And Todd Bleeker has an interesting approach with his FREE Deleted Items Document Library Custom List Template.
For those of you who can wait for the next version, there will be great support of undeleting SharePoint content out of the box. And it is going to be a very intelligent approach. When a user undeletes a document for example, it will not be deleted immediately. It first goes to the recycle bin where it is kept for a period (determined by the administrator). When that recycle bin gets purged, the document is completely gone. Users will have the option to restore it back from the recycle bin. It is pretty much the same approach as you have in the file system.