I think it would depend on which actor you want to have this ability. When certain actors die, they trigger quest-stages, scenes, dialog, and other stuff. Since Skyrim is so complex (compared to Obliv), it'd be difficult to pull off on certain actors (presumably 'uniques' and those that affect 'minor' quests and merchanting). I expect you'd have to reset quest-stages or anything else that was triggered; but some things may not be readily reset-able without fiery hoop-jumpage.
I foresee doing it on Player would be especially tricky (since SO many things are contingent on Player's state)... I know doing it from the console (on Player) causes drama.
But to do it on say.. a custom (and simple) actor that you set up as a follower or a unique enemy-boss, that may be quite easy and non-dramatic, and should work perfectly fine. Since you're the one who controls what that actor is 'hooked up to', you know what needs to be reset or changed should that actor pay the ultimate price and do a Lazarus.