The basic functionality exists in Microsoft Windows (at least XP) but it's somewhat tedious to use and almost nobody knows (let's speculate about cause and effect here?).
Here is how:
- Open the properties of the folder your file was in. You can do this by right-clicking onto the folder, and choose Properties.
- In the properties window, go to the Previous Versions tab.
- Windows pulls up a list of previous versions of the folder (this might take a moment), and displays them.
- Choose a version with a time-stamp when your document still existed the way you wanted.
- Click on the Copy… button
- Choose a place to save the recovered folder (make sure that you give it an appropriate name - e.g. “Backup of Folder XY”)
- You will now find the recovered document in the backup folder you have specified. Now copy it back to where it belongs, and delete the backup folder.
- And you’re done!
No, I'm not free to use a Mac at work.

Unfortunately, Christian, that is not a native Windows XP feature. It depends on Windows Server 2003, and only works in networked environments (http://technet2.microsoft.com/windowsserver/en/library/22a0add1-d224-47ee-8f6e-65103fb63e231033.mspx?mfr=true)

"somewhat tedious" is the best description of Microsoft I have heard in a long time .....

@Mark: thanks, again I learned something new.
@Dave: Microsoft - I have the impression that they are trying desparately to improve, but they just don't get it. But with a sense of humor, see http://www.youtube.com/watch?v=EUXnJraKM3k

I am not as interested in whether you can do it in XP or Vista because I just bought my wife a MacBook Air and it is such a magnificent machine (I should say piece of art) to work on, that what Windows-based machines can or can't do no longer is relevant.