http://core.trac.wordpress.org/browser/tags/3.3.1/wp-admin/includes/ms.php#L46
Notice, how drop defaults to false; this means that the blog tables are not removed. Deleting is triggered from over here: http://core.trac.wordpress.org/browser/tags/3.3.1/wp-admin/ms-delete-site.php#L19 and nowhere else by default. Unless you have a plugin that forces drops on the tables there’s still a chance to recover something.
First of all backup the database before attempting anything.
To get the blog to be displayed in the list you have to reverse the following action:
update_blog_status( $blog_id, 'deleted', 1 );
You can do this manually via MySQL:
UPDATE `wp_blogs` SET `deleted` = 0 WHERE `blog_id` = '##'
Or update_blog_status( ##, 'deleted', 0 ); in your functions.php once.
The users will, unfortunately be gone, due to this in a loop:
remove_user_from_blog( $user_id, $blog_id );
…performing even if the tables aren’t dropped.
The rest – settings, files, etc. should be all intact.
Good luck.