John,
As you might know, the State of Nevada owns the #12, and it is in confined storage at the yard in Boulder City, Nev. If I were a betting man, and after all this is Nevada, I would put my money on the locomotive being restored one of these years. Right now, there are at least a couple projects in front of it....the McKeen motor whatchamacallit, and the Glenbrook, which is an 1875 Narrow gauge Mogul. After those are done, maybe the State will get around to it. I hope so! Also, as I recall, the injectors and air pump are still on the #12. They definitely need overhaul, but that ain't an impossible task. The stuff missing are things like guages, handles, cab lights, brake stand, and other items like that. You're right...it can all be very expensive and usually is! But what the hell....
Dan