Loop #21 - Question(s)

If #21 is as out of gauge as was posted somewhere on this site, wouldn't it make sense to fix this rather glaring problem?
I would guess that this gauge problem has something to do with the derailments this locomotive has experienced.
I would also venture that the gauge problem is hard on the track. A derailment cannot be good for track no matter what causes it.
For those who are knowledgeable in this area, what would be involved in regauging this locomotive? Is it as simple as pressing the wheels to the correct gauge on the axle? Is it a more difficult task to complete?
Would adding a small lead and trailing truck help with the tracking problems the locomotive experiences, and in doing so, lessen the strain on the track as it trundles through the many curves?
I know it's not a steam locomotive, but it is an interesting little brute in its own right. I would think it could serve in a useful capacity as a work engine or switch engine on the Loop.
Just curious.