My help was: restore that files from the recycle bin and hope for the best. Did you do that? What happened?
http://answers.microsoft.com/en-us/windows/forum/windows_7-networking/where-are-the-windows-live-mail-files-saved/63217c8f-d773-4826-ab92-7f9189ef2870 tells you where these mails are by default (unless you specified otherwise). Did you have a look there? It's a folder that normally is hidden, so set the folder options in Explorer to show hidden files and folders also.
If all your files still are present that doesn't mean that they are readable and uncompromised. But if they are, you might be able to get your mail out via some third party recovery program if WLM itself can't do it.