Just found this piece of free software that allows you to recover older versions of files from system restore points.
So if you delete an important file by accident, providing a restore point was created before it was deleted, you may be able to recover it.
From the website:
"From time to time, Windows Vista / 7 / 8 creates point-in-time copies of your files. This allows you to retrieve older versions from files you accidentally deleted or altered. This service is turned on by default on all versions of Windows Vista/7, but Microsoft grants access to these copies only in Ultimate, Bus