This is true LDS When Joseph Smith returned the plates to The Hill Cumorah, I believe that the U&T was also returned, so when it comes time to translated the final 2/3's of the BoM plates they will be accessible. Personally I would love to be able to read them, I have such a strong desire to know the entire history of the inhabitants of the continent that it sometimes drives me nuts.
I heard once that the prophet still has the urim and thummim. I don't know if its true or not, but that's what I've always thought.----1245016691
EDIT: Sorry it wasn't the Urimm and Thummim it was the seer stones that the prophet I think has.
The best research on the subject seems to indicate that after Martin Harris lost the 116 page manuscript, Joseph had to turn over the gold plates and the Urim and Thummim to the angel Moroni and that he never got the Urim and Thummim back. It appears that all references to the Urim and Thummim after that date are actually references to the seer stone, which functioned similarly to the Urim and Thummim. It seems likely that Joseph thereafter used the seer stone to translate the Book of Mormon. Personally, I suspect that the President of the Church has the seer stone in his possession. A friend once told me that President Spencer W. Kimball once pointed to a particular drawer of his desk and said, "In there I keep those things that pertain to the President of the Church." I don't know what that would have been if not the seer stone.