The ship is still there. The British recovered some pieces of technological interest and over time the ship's superstructure was cut down to below water level. There is a steel structure that is like a series of crosses that sticks out of the water today, marking the Graf Spee for navigation purposes. The Uruguayans have also salvaged one of the ship's anchors and the ship's telemeter, which are on display outside the Museum. The German goverment has protested any future salvage of the ship. Captain Hans Langsdorf commited suicide in a Buenos Aires hotel for the act of allowing the ship to be cornered. There are several sailors who refused to return to Germany alive and well and living in Uruguay today.
I've heard the unsubstanciated rumor that steel from the ship was used to make the Ballester-Molina Colt 1911 clones by the Argentine goverment.
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