The Revenuer took the gun away with him, and actually brought it back several weeks later, deactivated (barrel welded to the receiver and the muzzle plugged, but otherwise intact) and registered.
You know that registered DEWATS can be legally be reactivated now, right?
I forget which NFA paperwork you have to file, but it's a fairly simple process. I'm sure if you ask over at www.uzitalk.com someone there would know and could probably reccomend a gunsmith to do the work.
If you have the gun, and the paperwork, why not? Even if you only shoot it a few times, it would be a blast, and it would increase the value for resale in the future.