If you set things up appropriately, you can rewind/replay your DB to a given point-in-time. So you have a 2nd Moodle install "shadowing" your main installation -- from a special admin webpage, you can order the shadow moodle to be rewound to any time from 5 minutes ago to 30 days ago, with granularity down to seconds/miliseconds.
So if a teacher calls saying they have *just* deleted a quiz he shouldn't have, you rewind the shadow Moodle install, export the course/quiz to a moodle backup file, and either restore it or email it to the teacher.
Something like a having your own personal Moodle Tardis.
Depending on HW, traffic and time of the day, the "rewind" operation takes 5-20 minutes. How many days of rewind-ability do you keep around is configurable - naturally, this feature eats hard drives for breakfast on a busy Moodle setup, and more days mean more HD
The only caveat is that it would not cover - or rewind - files held in Moodledata. There's a plan I've drafted with Petr for smarter file storage using a content-addressable strategy. Once that's in place, it will be able to magically "rewind" Moodledata too.

